'We're only a young group and next year is the start of our big years,' enthuses Mark Shashoua, chief executive of exhibitions organiser and flexible venue space provider Expomedia, which he expects to double in size by the end of 2005. Shashoua's comments accompanied encouraging interims to June, with pre-tax losses pared back to Û1.3m (Û2.2m) on a higher turnover of Û6.6m (Û4.5m). Stripping out expansion costs, earnings before interest, tax and depreciation was Û289,000, versus losses of Û215,000. During the first half the company organised 25 exhibitions, compared with 20 for the comparable half, and for the year Shashoua expects to organise 51 exhibitions, up from last year's 39. Today, Expomedia manages two venues in Poland, its biggest market, where event organising revenues were up 13%. Over the next 18 months this will rise to seven with the addition of new venues in Amsterdam, Belgrade, Cologne, Moscow and New Delhi. By 2005 the group will organise 89 exhibitions, including some in India for the first time. Shashoua, now operating from Moscow to stay on top of a fast-moving market, also claims India represents an 'unrivalled opportunity', as it is severely lacking in exhibitions and good quality exhibition space. Encouragingly, bookings for the second half are up 30% on last year and up by 40% for the full year. For the year, house broker Charles Stanley predicts pre-tax losses of Û2.3m, followed by a Û2.4m profit in 2005. Buy for growth.