Hyve pulls guidance, extends event postponement plan
By Frank Prenesti
Date: Monday 23 Mar 2020
(Sharecast News) - Events group Hyve pulled profits guidance on Monday and extended its postponement programme as the coronavirus pandemic continued to spread.
With a slump in passenger numbers, events globally have either been cancelled as governments impose travel bans. Hyve said it was activating "a large-scale postponement plan per region".
"In line with other event organisers, and given the speed with which the situation is developing, the group will no longer be giving guidance," it added.
"This is larger than had been anticipated at the time of our 5 March coronavirus update. Should the situation deteriorate, further events will need to be moved," the company said in a statement.
"The group has been in regular contact with venue providers and key customers and will continue to postpone to another date in the current financial year where possible."
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