Informa shares rose on Wednesday as the group shared the update.
Event Group profits are expected to plummet by more than 70% in 2020, with profits expected to fall from £25000 to £270 million from £933 million last year.
In 2019, the group recorded revenue of £2.9 billion. This is expected to fall to £1.6 billion in 2020.
The group remains positive in 2021 and the return of the event. It has resumed several events in mainland China and Asia, and is on track to achieve its £600 million cost-cutting target by the end of the year.
– Subscribe – Click here to subscribe
“(2021) is likely a year of revenue from physical events rather than full rebound and recovery,” he said in the statement.
Stephen A. Carter, CEO of Stephen A. Carter, commented: A pandemic world.
“The continued strength and growth of the subscription business and the advance decision to expand the physical event postponement programme will be equally important as the market will gradually open up in the second half of 2021 and customer trust will be restored. That’s what it is. It enhances digital and data capabilities.”
Informa’s shares are trading +4.05% at 559.80 (1100gmt).
