StockMarketWire.com - Information and analytics company Ascential swung to a loss as canceled and deferred events owing to the pandemic dented revenue.

For the six-month period ended 30 June 2020, the company reported a loss of £78.3m compared with a profit of £30.5m on-year as revenue fell 26% to $56.3m.

'The impact of the pandemic-related lock down on both our events and the marketing segment generally has caused revenues to decline by 39% and profits to decline by 74% year on year,' the company said.

Looking ahead, Ascential said that while it did not expect an immediate recovery in underlying trading conditions it was also apparent that a number of its brands remained well positioned to benefit from the accelerated shift towards eCommerce.

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