By Frank Prenesti
Date: Thursday 22 Oct 2020
LONDON (ShareCast) - (Sharecast News) - Information business Relx on Thursday warned annual revenue at its exhibitions unit could fall by up to £210m before the cost of cancellations due to the coronavirus pandemic.
The company forecast annual revenue from the unit of £330m - £360m, compared to £1.26bn in 2019, with total costs of £530m - £540m. Total revenue had fallen 70% in the year to date, it added, as travel restrictions battered the industry.
Relx said event activity had reopened in a limited number of countries such as China and Japan.
"We have continued to develop and launch a range of new digital initiatives in support of our customers and event brands, and have made good progress on both hybrid and digital-only events," the company said.