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Money20/20 China

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RNS Number : 0848R
Ascential PLC
25 October 2019
 

RNS REACH

 

25 October 2019

 

Ascential plc

 

Money20/20 China

 

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.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
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