Hyve busy again as live events return, announces Shoptalk Europe debut
Back at its busiest and performing in line with management expectations. That’s the good news from events specialist Hyve Group in its trading update for the third quarter spanning 1 April-30 June after the pandemic severely damaged its schedules. And it also announced a new European retail show.
The Pure London and Moda organiser said on Thursday that it ran 18 in-person events during the quarter, bringing the total number for the year to date to 28.
“The increased number of events in Q3 reflects the continued momentum across the group's Eastern markets, primarily Russia, China, Turkey and Ukraine”, it noted.
It also announced the launch of Shoptalk Europe, a new in-person event to debut at ExCeL London 6-8 June 2022. Shoptalk Europe “will bring Shoptalk's outstanding customer experience and industry leading format to a European audience”.
Meanwhile, the business was further boosted in July as Hyve received a further £2.1 million of insurance claims in respect of cancelled FY21 events. That brings total insurance proceeds confirmed since the pandemic to £87 million.
Mark Shashoua, CEO of Hyve Group, said: "It is extremely encouraging that Hyve has successfully run more events in the quarter than in the entirety of the first half. Many of the group's key markets in the East have been open for a number of months now and, combined with the continued pace of the vaccine rollout in our Western markets, this gives the Group continued confidence when looking ahead to the final quarter of FY21 and beyond”.
He added: “The market-leading quality of the portfolio, strength of the balance sheet and growing omnichannel offering provides confidence that Hyve is well placed for success as markets continue to reopen”.
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