Hyve Group maintains progress, reshuffles board
A “strong performance across key indicators, despite ongoing disruption of Omicron”, summed up Hyve Group’s trading performance for the opening four months of FY22.
The international trade events organiser’s new Q1 (from October to January) picked up where it left off in Q4 saying it has seen resilient trading, plus continued strong like-for-like customer spend, forward bookings and cash collection.
It said the majority of the group's global events in the latest period ran to schedule, although events in China continued to be affected due to ongoing government restrictions. As a result, two of the four events scheduled to run there were cancelled and one was postponed.
Elsewhere, Omicron “has had limited impact on the group's events schedule” for the organiser of Pure London, Scoop and Moda.
CEO Mark Shashoua said: “We were pleased to see the relaxation of travel restrictions in some of our key markets and are encouraged by the limited impact of Omicron on our events schedule.
“However, uncertainty with regards to new variants and geo-political developments in Russia and Ukraine remain. Preparations for all scheduled events continue as planned, while contingency plans are well rehearsed.”
Meanwhile the company also had a board level reshuffle to announce following its AGM. That means none-executive senior independent director Stephen Puckett will step down and Nick Backhouse, non-executive director and chair of the Audit Committee, will take on the vacated role.
In addition, Sharon Baylay, non-executive director and chair of the Remuneration Committee is to stand down from the board from 1 March. New appointments include Anna Bateson and Rachel Addison as non-executive directors, effective 1 March.
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