25 October 2019
Ascential plc (LSE: ASCL.L), the specialist, global information company today announces that Money20/20 China, previously planned for 4-6 December 2019, has been deferred and will not take place this year. The previous edition of Money20/20 China in 2018 generated £2.5m of revenue and in 2019, the one-off costs relating to Money20/20 China are not expected to impact Adjusted EBITDA by more than £1.5m.
The decision to defer Money20/20 China has been taken in light of a short-term hiatus for international companies in the Chinese Fintech market, arising from a combination of macro-economic trends and changes in local market dynamics including significant changes in the Peer-to-Peer lending sector (an important revenue source in 2018). Management intend to return the event to Hangzhou in China in due course when market conditions are conducive to a high quality event that befits its importance.
For further information, please contact:
FTI Consulting LLP
020 3727 1000
Ed Bridges / Matt Dixon / Jamie Ricketts
Ascential is a specialist, global, information company that helps the world's most ambitious businesses win in the digital economy. Our information, insights, connections, data and digital tools solve customer problems in three principal disciplines:
· Product Design via global trend forecasting service WGSN;
· Marketing via global benchmark for creative excellence and effectiveness Cannes Lions and WARC, and strategic advisory firm MediaLink; and
· Sales via ecommerce-driven data, insights and advisory firm Edge by Ascential, leading managed services provider for Amazon, Flywheel Digital, the world's premier payments and FinTech congress Money20/20, global retail industry summit World Retail Congress and Retail Week.
Ascential also powers political, construction and environmental intelligence brands DeHavilland, Glenigan and Groundsure - together comprising the Built Environment and Policy segment.
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