Informa profit plunges as pandemic shutters events

first_img Informa, the world’s largest exhibition company, has been hit hard by the pandemic (Getty Images) Also Read: Informa profit plunges as pandemic shutters events Informa said it was on track to hit its target of £600m in cost savings by the end of the year, including £400m in direct savings to operating profit and £200m annualised indirect savings. James Warrington whatsapp Wednesday 6 January 2021 8:12 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTaco RelishSuspicious Pics That Are Fishier Than The SeaTaco RelishPost FunGreat Songs That Artists Are Now Embarrassed OfPost FunAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthMagellan TimesIf You See A Red Ball On A Power Line, Here’s What It MeansMagellan TimesZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldSenior Living | Search AdsLuxury Senior Living In Scottsdale is Now Affordable! (See Prices)Senior Living | Search AdsPets DetectiveAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongPets DetectiveMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Week The FTSE 100 firm, which is the world’s largest exhibitions group, said it expected adjusted operating profit in the range of £250 and £270m. This is down from £933m in 2019. Share The firm said this portfolio of subscription-led businesses had continued to perform well in 2020, delivering positive underlying growth for the year. Informa, which runs events including the China Beauty Expo and the Monaco Yacht Show, has been hit hard by the Covid-19 crisis, with in-person events around the world grinding to a halt. Events group Informa forecast a plunge in profit in 2020 as the coronavirus pandemic brought the events industry to its knees. Informa profit plunges as pandemic shutters events Rishton, who serves on Informa’s board and has also held non-executive roles at Unilever and Serco, will take over as chair at the annual general meeting in June. “The continued strength and growth of our subscription businesses and our prior decision to extend the physical Events Postponement Programme should serve us well as markets gradually open up and customer confidence recovers in the latter half of 2021. Equally important, will be our continued commitment to strengthening our digital and data capabilities.”center_img Informa today also confirmed the appointment of John Rishton as its new chair, replacing Derek Mapp. Informa, the world’s largest exhibition company, has been hit hard by the pandemic (Getty Images) Also Read: Informa profit plunges as pandemic shutters events Chief executive  Stephen A. Carter said: “The Informa group enters 2021 with an intention to use the progressive return from Covid-19 to deepen our use of digital and data services, thereby ensuring our products and brands remain relevant in a post pandemic world.  Show Comments ▼ The company said some events had resumed in mainland China and Asia, while the rollout of vaccines in Europe and North America provided optimism for recovery in 2021. The exhibition group has shifted its focus more towards virtual events and its digital services, which include academic publisher Taylor & Francis and the historic Lloyd’s List shipping journal. whatsapp Informa, the world’s largest exhibition company, has been hit hard by the pandemic (Getty Images) More From Our Partners Feds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Revenue is set to reach roughly £1.6bn, compared to £2.9bn the previous year. Tags: Informalast_img

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