Informa PLC (INF.L)
23 Oct 2020
Mon, Sep 21 2020
* Sees FY revenue of about 1.7 bln stg (Adds CEO comments, background)
Informa Plc, the world's largest exhibitions group, posted a half-year loss of nearly 740 million pounds ($958.89 million) on Monday and unveiled a new round of cost-cuts, including both voluntary and compulsory layoffs and the closure of offices, as it struggles with the fallout of COVID-19 travel bans and lockdowns.
Sept 21 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.
July 13 Around 30,000 jobs in Britain's events industry are at risk due to increased uncertainty about when trade fairs and exhibitions could resume in the UK, an industry body representing event organisers, venues and suppliers warned on Monday.
Informa Plc plans to hold in July its first major event since the coronavirus pandemic led to widespread cancellations of trade fairs, the world's largest exhibitions organiser said on Friday.
* Identifies cost savings of over 400 mln pounds (Recasts top, adds analyst comment, detail on rebates)
June 12 Informa said on Friday it expects its yearly revenue to fall by a third as the coronavirus crisis forced cancellations of conferences and other major gatherings organised by its events business.
* INFORMA - ACTIVITY IN CHINA HAS PICKED UP PACE THROUGH PAST MONTH,