Return of in-person events gives Hyve Group a faster than anticipated revenue recovery
Hyve Group said today that its 2022 financial year saw a faster than anticipated revenue recovery due to strong customer demand for in-person events following the pandemic.
Shares rose by 5 per cent today as a result.
From April 1 to June 24, the group said it ran all nine of its scheduled in-person events, except three in Ukraine due to the war.
One of the group’s key global events with Mining Indaba took place as expected and it also launched a European version of its popular Shoptalk event, which brought together 3,000 retailers, sponsors and brands including Apple and Google.
The firm said forward bookings for the current full year stand at £122.3m, excluding £6.5m of bookings for Chinese events in August and revenue for events in Ukraine, which continue to be postponed.