March 5, 2020 / 7:31 AM / 24 days ago

BRIEF-Hyve Sees 16-18 Mln STG Hit On 2020 Profits Due to Coronavirus Outbreak

March 5 (Reuters) - Hyve Group PLC:

* HYVE GROUP PLC - CORONAVIRUS UPDATE

* HYVE - ESTIMATE A ONE-TIME ADVERSE IMPACT IN FY20 OF BETWEEN £17M AND £19M ON GROUP’S REVENUE AND BETWEEN £16M AND £18M ON GROUP PROFIT IN YEAR

* HYVE GROUP PLC - IMPACTS ARE EXPECTED TO HAVE A SIGNIFICANT IMPACT ON GROUP’S RESULTS BEYOND CURRENT FINANCIAL YEAR

* HYVE - NEW DATE FOR GROCERYSHOP WILL REMAIN IN FUTURE YEARS AND THEREFORE DO NOT EXPECT TO RUN EVENT TWICE IN FINANCIAL YEAR 2021

* HYVE GROUP PLC - MANAGED TO POSTPONE FOUR MARCH EVENTS IN ASIA TO LATER IN OUR CURRENT FINANCIAL YEAR

* HYVE - UNLESS IMPACT OF CORONA VIRUS LASTS UNTIL RESCHEDULED DATES, EVENTS WILL ALL STILL TAKE PLACE WITHIN 2020 FINANCIAL YEAR

* HYVE - CURRENT ESTIMATED FINANCIAL IMPACTS DUE TO POSTPONEMENT OF ASIAN EVENTS - C. £1M ON BOTH REVENUE AND PROFIT

* HYVE - CURRENT ESTIMATED FINANCIAL IMPACTS DUE TO OUTBOUND SALES - C. £7M TO £8M REVENUE AND C. £6M TO £7M PROFIT

* HYVE - CURRENT ESTIMATED FINANCIAL IMPACTS DUE TO POSTPONEMENT OF SHOPTALK AND GROCERYSHOP - C. £9M TO £10M ON BOTH REVENUE AND PROFIT

* HYVE - ALREADY BOOKED C. £200M OF REVENUE FOR CURRENT FINANCIAL YEAR Source text for Eikon: Further company coverage:

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