Relx have released a trading update, giving an outlook for the full year 2021, stating that while "the timing and pace of recovery in exhibitions remains uncertain", the group's other divisions (STM, Risk, Legal) are expected to "deliver another year of underlying revenue and adjusted operating profit growth in 2021, similar to pre-COVID-19 trends".
The group states that so far in 2021, Reed Exhibitions have held 56 physical events, primarily in Japan and China, with one held in the U.S. in March. Government restrictions have prevented most events from taking place in Europe and the Americas, and have constrained the scale of many events elsewhere, the statement says. The group have continued to develop and launch a range of new digital initiatives in support of customers and event brands. As for the full year, "the evolving COVID-19 pandemic will continue to impact our ability to hold physical events, making the outlook for the year uncertain." (ufi)