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Publisher and events Informa said it would extend delays of events into mid-to-late spring next year to soften the impact from the pandemic after swinging to a first-half loss on lower revenue.
The move would strengthen its balance sheet, underpinning full-year revenues of about £1.7bn, which would also serve as its baseline for 2021, the company said.
The company unveiled the next stage of its cost cutting programme, targeting £600m+ savings to adjusted operating profit by year-end, including direct cost savings of around £400m and £200m+ of annualised indirect savings.
For the six months to 30 June, pre-tax losses were £801.2m, compared with a loss of £232.8m on-year, as revenue fell 42.1% to £814.4m.
The company did not declare an interim dividend.
Informa said the search for a new chairman following coronavirus-led disruptions had resumed and aimed to conclude the search by year-end.