StockMarketWire.com - Hyve said it expected annual revenue to improve by nearly quarter from a year earlier as its transformation programme continued to underpin performance.

Revenues for 2019 were expected to be circa £219m, compared with £176m a year earlier, the company said, attributing the increase to the full year impact of the recent acquisitions and strong underlying trading growth.

On a like-for-like basis, revenues were expected to be 7% ahead of the comparative period, the company added.

‘After over two years of significant transformation, we have created a stronger and more diversified portfolio, with a focus on market-leading events,’Hyve said. ‘This makes us more resilient going into FY20 as we face headwinds in many of our markets, including sanctions in Russia, Brexit, USA/China trade wars and foreign exchange rate uncertainty.’

As at 27 September 2019, the group had booked circa £118m of revenue for 2020, above the £113m book at the end of Sep last year. On a like-for-like basis, these revenues were 4% ahead of this time last year.


At 9:08am: [LON:HYVE] share price was -0.9p at 81.1p



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