23rd Jan 2020 12:00
(Alliance News) - Hyve Group PLC on Thursday said it is set for further growth following improved performance in the first quarter of its current financial year.
The exhibitions and conferences organiser - which became a FTSE 250 constitute on Friday last week - said it has made a "good" start to its financial year, with its performance in the period in line with management expectations.
Hyve's financial year began in October.
For the three months to the end of 2019, the company said its revenue grew by 7% on a like-for-like basis, thanks to Africa Oil Week and Yugagro events.
Looking ahead, Hyve said it intends to continue driving organic growth, whilst managing its portfolio and making product-led acquisitions.
Forward bookings as of Thursday stood at GBP187 million, Hyve said, up 3% on a like-for-like basis.
"Despite uncertainty both economically and geopolitically across many of our markets, we remain confident in achieving our full year expectations," the company said in its statement Thursday.
Hyve shares were trading 1.9% lower in London in midday trade at 105.00 pence each.
By Evelina Grecenko; [email protected]
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