Hyve has announced its preliminary financial results for the fiscal year ending September 30, 2021. The company reports a solid financial performance driven by recovery and momentum in H2 with successful reopening of in-person events in all major markets. In financial terms, this means £55.2m revenue (FY20: £99.4m), with headline profit before tax of £20.8m (FY20: loss of £18.1m), following receipt of £65m of insurance proceeds.
Mark Shashoua, CEO of Hyve Group plc, commented: "Our focus since the outbreak of COVID-19 has been to emerge with a stronger customer proposition and robust financial platform. The successful reopening of in-person events in all our major markets has led to a strong and encouraging performance across our key indicators – particularly in the second half – where our shows performed well on a wide range of important metrics, including like-for-like customer spend, visitor density, net promoter scores and forward bookings."
„We have launched a new ESG strategy that will be embedded across our business.“
The CEO claims to have delivered on all three priorities set one year earlier: building customer market share on the market-leading shows of the company, trialling facilitated meetings for rollout in FY22; and accelerating the omnichannel strategy through the launch of new online meet-ups. "Also, to further develop the positive impact of our brands on communities and the environment, we have launched a new ESG strategy that will be embedded across our business", Shashoua adds.