LONDON (dpa-AFX) - Hyve Group Plc (HYVE.L), formerly known as ITE Group, said that the near-term outlook remains fluid. The company expects continued disruption to its event schedule and a gradual return of customer participation, particularly in western countries.
The Group said it maintains its strong liquidity position and continues to focus on cash generation and preservation.
Hyve said it enters 2021 with a strong platform to weather the COVID-19 crisis due to the decisive action taken in 2020 to strengthen its financial position, conserve cash, secure substantial insurance payments.
In fiscal year 2020, the Group successfully secured 22.0 million pounds of income from insurance claims. As announced at final results, during the first-quarter 13.1 million pounds of claims related to fiscal year 2020 events had been received and a further 11.5 million pounds of claims had been approved, but not yet paid, the company said.
The company now confirmed that the 11.5 million pounds of claim proceeds have now been received, taking the total insurance payments received to date to 46.7 million pounds.
Copyright RTT News/dpa-AFX