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Company News

Informa posts operating loss after COVID-19 impairment hit

Sept 21 (Reuters) - Informa Plc, the world’s largest exhibitions group, on Monday recorded COVID-19 impairment charges of around 592.9 million pounds ($767.21 million), pushing it to a half-year operating loss as it struggled with one of the worst downturns in the industry.

The company, which reported a statutory operating loss of 739.9 million pounds versus a profit of 248.3 million pounds a year earlier, said it has extended its postponement programme to mid- to late-spring of next year and that it was targeting revenues of around 1.7 billion pounds in 2020. ($1 = 0.7728 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Subhranshu Sahu)

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