, the parent company of Reed Exhibitions, UK, has posted its annual operating results obtained with a revenue of £7,110 million. The Exhibitions business, which accounted for 5% of the group total in the year (down from 16% in 2019), was significantly impacted by COVID-19 in 2020. The revenue of Exhibitions was £362 million (£1,269 million), moving into an adjusted loss of £164 million (vs. £331 million profit in 2019). Chief executive officer Erik Engstrom commented: "In Exhibitions, we focused on continuing to serve our customers through the disruption caused by venue closures, whilst taking appropriate steps for the future of the business, accelerating the development of digital tools, and adjusting the ongoing operating cost structure." In its outlook, the company states that the timing and pace of the recovery of its Exhibitions arm remains uncertain.