76
Fashion Jobs
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · THESSALONIKI
L'OREAL GROUP
Senior Product Manager Maybelline – Consumer Products Division
Permanent · NEA IONIA
CLINIQUE
Consumer Marketing Manager, Clinique
Permanent · ATHENS
LA MER
Consumer Marketing Executive, LA Mer
Permanent · ATHENS
TOM FORD
Consumer Marketing Manager Tom Ford
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · CHALANDRI
ESTÉE LAUDER COMPANIES
Fixed Assets & Decorations Supervisor
Permanent · ATHENS
SEPHORA
Accounting
Permanent · ATHENS
SEPHORA
Category Specialist
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Mare West) - Μερική Απασχόληση
Permanent ·
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · PIRAEUS
H&M
Hiring Day Chania - Sales Advisors
Permanent · CHANIA
MAD LORDS
Sales Assistant Scorpios Mykonos
Fixed-term · MYKONOS
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · MAROUSI
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Metro Mall) - Μερική Απασχόληση
Permanent · AGIOS DIMITRIOS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · KALAMATA
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · NEA IONIA
GUESS
Sales Advisor (Greece)
Permanent · ATHENS
BEIERSDORF
Junior Pos Materials & Execution Specialist (Temp Position)
Fixed-term · ATHENS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · KALLITHEA
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · AGIA PARASKEVI
Published
May 7, 2020
Reading time
2 minutes
Download
Download the article
Print
Text size

Pure organiser Hyve raises cash, reports lower sales

Published
May 7, 2020

Hyve, the organiser of trade shows including Pure London, Jacket Required and Moda, is hoping to raise approximately £126.6 million to reduce its debt and protect its future.



In an announcement released on Thursday, the company said the raising will be done through a rights issue, fully underwritten by corporate broker Numis, Barclays and HSBC.

It comes as a result of the Covid-19 outbreak, which forced the group to postpone 48 events and cancel a further 13 since the start of the epidemic.

Revenue for the year to September is expected to take an £80 million hit, down 20% on last year.

The listed company is proposing the issue of nine new ordinary shares at 69p each for every 40 existing ordinary shares. This is a 68% discount to Wednesday’s closing price. It will also turn ten existing ordinary shares in one consolidated share, conditional to the issue. After the announcement, shares in the company fell by 5.6% on Thursday morning.

Investors were reacting to the news of the rights issue, as well as the release of the company’s interim results for the six months to 31 March.

During the first half of the year, revenue fell from £107.8 million in 2019 to £96.3 million, hurt by international government restrictions to control the coronavirus. On a like-for-like basis, revenue was up 1%. Hyve also reported a statutory loss before tax of £168.3 million, compared to profit of £1.9 million a year earlier. 

And the £110.1 million acquisition of US-based events Shoptalk and Groceryshop in December sent adjusted net debt up from £108.9 million to £157.2 million.

Despite everything, CEO Mark Shashoua remained confident in the group’s ability to bounce back once the lockdown is lifted. He said: “Market-leading events act as a key trading platform for many industries and will play a vital role in reigniting economies, and we are working closely with customers, government and industry bodies to make this happen. 

“We have also accelerated our focus on building our omni-channel capabilities driven by the Shoptalk and Groceryshop acquisition. Digital will not replace face-to-face events, but it complements them with online activity that supports our customers year-round and maximises the profile of our brands.  

“Whilst the immediate impact of temporary government restrictions has been severe, we believe these are short-term challenges. Our strategy of building a portfolio of market-leading events and the investment made over the last three years puts us in a strong position when we exit this crisis.”

Copyright © 2024 FashionNetwork.com All rights reserved.