March 5, 2020 / 7:47 AM / a month ago

Hyve warns of profit hit as events are postponed because of coronavirus outbreak

(Reuters) - UK-based event organiser Hyve (HYVE.L) said on Thursday revenue and profit in 2020 will be hit after it postponed four events in Asia, as well as the Shoptalk 2020 and Groceryshop events in the U.S. due to the coronavirus epidemic.

The company, formerly known as ITE, said there will be a one-time hit of £17 million to £19 million on revenue and a hit of £16 million to £18 million to profit in 2020.

Reporting by Yadarisa Shabong in Bengaluru; Editing by Bernard Orr

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