Informa (LON: INF) has reported a pre-tax loss of almost £740m on Monday as the group was hit by the impacts of the Coronavirus pandemic.
The exhibition group has said it will carry out a cost-cutting plan to save £600m and cut jobs across the world.
Over the last six months, the group revealed £814.4m, compared to the same period a year earlier where revenue reached £1.4bn.
Since March, shares in the group have fallen 45%.
“The combination of our resilient subscriptions-led businesses and the actions we are taking position Informa securely through to the end of 2021,” said chief executive Stephen Carter.
“We remain confident that Informa will emerge from the pandemic with stability and security, delivering long-term sustainable growth and shareholder value.”
The company, which is the world’s largest exhibition group, has cancelled its dividend as well as raise £1bn pounds in equity.
Informa shares (LON: INF) are currently trading -2.94% at 369,40 (0933GMT).
