Hyve’s revenues US$77m in first half

London, 24th May: Earlier this week, Hyve Group plc (formerly ITE Group) released its financial results for the six months ended 31st March 2022. Revenues in the period were £58.6 million (US$77 million), compared with £5.0 million (US$6.5 million) in the same period in 2021. Management attributed the performance to the return to its pre-pandemic schedule of events - with a few important exceptions including China.

Profits before tax in the six-month period were £9.5 million (US$12 million), compared with profits of £29.4 million (US$38 million) in the same period last year. However, excluding the impact of insurance proceeds received, profits would have increased by £18.5 million (US$24 million) due to the recovery of the company’s events.