Relx withdraws guidance as events unit feels force of Covid-19
By Frank Prenesti
Date: Wednesday 08 Apr 2020
(Sharecast News) - Information group Relx withdrew full-year guidance as the coronavirus pandemic hammered its exhibitions business.
The Exhibitions business, which accounted for 16% of revenue and 13% of adjusted operating profit in 2019, was being impacted significantly by Covid-19, it said on Wednesday, making its outlook "highly uncertain".
First quarter underlying revenue in the rest of Relx's business - science, risk and legal - had been slightly higher year on year, although they could be affected by changes in the customer market, the company said.
"Depending on the impact and duration of the restrictions resulting from the Covid-19 pandemic, further rescheduling or cancellation of events may be necessary, making the full year outlook highly uncertain," Relx said.
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