UK-based exhibitions group Informa has recorded a 42 per cent plunge in revenue due to the global Covid lockdowns leading to a £1.1 billion loss for 2020.
Informa posted revenues of £1.7 billion in 2020 compared with £2.9 billion in 2019.
However, the company remained optimistic that the exhibition market was seeing signs of recovery led by renewed activity in the US and China.
In the US, Informa has already held events in Florida this year and is looking to open the doors to more large expos in Las Vegas in June.
In China, the company is forecasting a return to pre-pandemic numbers with around 70 events this year.
The sector in the UK and Europe were still struggling, with Informa chief executive Stephen Carter hoping for “revitalisation and growth through 2022-2024”.