Hyve Group PLC (LSE:HYVE) said the post-pandemic recovery of in-person events is "considerably ahead of anticipated levels," with the events organiser adding momentum in the first half has continued into the third quarter ending June 24.
Revenue in the period recovered fully on a pro-forma basis despite persistent macroeconomic challenges
Forward bookings for financial 2022 total £122.3mln, which excludes £6.5mln of bookings for August events in China and all events in Ukraine because of the war.
"While there continues to be uncertainty around running events in China in the near term, the group notes the beginning of a relaxation of COVID-19-related restrictions in certain regions, however this situation remains fluid," it added in a trading update.
"I am pleased to report another quarter of strong trading. The trends we saw emerge post-pandemic continue to hold true - in particular, our customers continue to spend more with us than before, demonstrating the huge value which in-person events offer and proving that our strategy of focusing on only market-leading events is paying off," said Mark Shashoua, chief executive.
Shares of the company were 5.6% higher at 71.8p.