Hyve lifted after trading update

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Hyve lifted after trading update
Master Investor Magazine

Master Investor Magazine 60

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FTSE 250 conference organiser Hyve (LON:HYVE) saw its share price rise by 17.82% to 20.50p (as of 14:25 BST) as it detailed efforts to mitigate the effects of COVID-19. So far, 45 events have been postponed and eight cancelled, and management have implemented a range of cost cutting measures including placing a quarter of staff on furlough and cancelling dividends.

The firm has agreed a waiver on June covenant tests with its lenders and has access to sufficient facilities to ensure short-term liquidity.

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