Hyve Group, the company behind popular fashion trade shows such as Scoop, Pure London, and Moda, has reported a robust start to the year. The company is experiencing positive momentum and improving revenues, which are expected to range from £95 million to £100 million for the period between October 2022 and March 2023. This growth is supported by strong performance in all key performance indicators, including like-for-like customer spend.

After completing a successful five-year transformation plan in FY22, Hyve Group has streamlined its events portfolio, with a focus on the first half of the financial year. The Spring Fair, in particular, has seen significant year-on-year growth. The company is also anticipating that the upcoming Shoptalk event will meet its expectations.

The company has managed to reduce its adjusted net debt as of March 22nd to £55 million, compared to £64 million the previous year. This reduction is attributed to insurance proceeds and bookings for future events. However, this figure does not include recent event delivery costs. It is expected that the adjusted net debt at the end of FY23 will be higher, ranging from £80 million to £85 million.

Despite the potential challenges posed by the global macroeconomic environment and the possibility of a recession in certain markets, Hyve Group remains confident in its ability to navigate these obstacles. The company believes that its marketing spend will continue to focus on leading events that provide a strong return on investment.

Mark Shashoua, the CEO of Hyve Group, expressed confidence in the company’s performance, stating, “We believe we are well-positioned to weather any possible challenges as marketing spend continues to gravitate towards must-attend leading events that drive return on investment.”

Overall, Hyve Group’s strong events momentum and improving revenues indicate a positive outlook for the company. With a streamlined portfolio of events and a focus on driving return on investment, Hyve Group is well-positioned for continued success in the fashion trade show industry.

Useful links:
1. Hyve Group Official Website
2. Spring Fair Website