LONDON (dpa-AFX) - Events business Hyve Group Plc (HYVE.L), formerly known as ITE Group, Thursday said its third-quarter performance was in line with management expectations.
The third-quarter has been the company's busiest trading quarter since the COVID-19 pandemic began. The company said its performance reflects continued reopening of markets.
The company achieved a like-for-like revenue increase of 15 percent from customers who were able to attend in both FY19 and FY21.
In the quarter, 18 in-person events ran, bringing the total number for the year to date to 28. The increased number of events reflects the continued momentum across its Eastern markets, primarily Russia, China, Turkey and Ukraine.
Mark Shashoua, CEO of Hyve, said, 'Q3 is traditionally a strong trading period for the Group and it is extremely encouraging that Hyve has successfully run more events in the quarter than in the entirety of the first half. Many of the Group's key markets in the East have been open for a number of months now and, combined with the continued pace of the vaccine rollout in our Western markets, this gives the Group continued confidence when looking ahead to the final quarter of FY21 and beyond.'
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