(Alliance News) - Events operator Ascential PLC on Wednesday said two of its major events are still set to take place in June as planned.
About 25% of Ascential's revenue comes from its events business, with the Cannes Lions festival and Money 20/20 in Amsterdam in June, along with Money 20/20 in Las Vegas in October, making up most of that.
The rest of the company's revenue comes from its information services operations.
"Based on current discussions, we are planning for both events to take place as scheduled in June. We are also carefully monitoring developments and consulting with our customers in the formulation of contingency plans," said Ascential.
"We have therefore today published our agreed contingency dates for both events in the second half of our financial year being 26 October to 30 October 2020 for Cannes Lions and 22 September to 24 September 2020 for Money20/20 Europe. We expect to make a final decision on whether to defer the events to these contingency dates by no later than mid-April as more information becomes available on the viability of our preferred original dates."
Ascential said it does not think any expenses from the deferral on an event will be material.
Ascential shares were down 1.6% on Wednesday afternoon in London at a price of 260.00 pence each.
Late February, Ascential guided for "strong" organic revenue growth in 2020, reaching between GBP425 million and GBP455 million. In 2019, revenue was GBP416.2 million, up 19%.
By George Collard; georgecollard@alliancenews.com
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Ascential (ASCL)