The Scottish Exhibition and Conference Centre (SECC) has said solid results from exhibitions backed by strong performances from conferences and events have delivered healthy profits.
In its financial results for 2012/13, the Glasgow venue reported a pre-tax profit of £1.4m and an EBITDA of £2.5m, which was £1m up on a like-for-like pre-tax basis.
Turnover for the group was reported at £29.5m, an increase of nine per cent on the previous year.
The figures were boosted by new commercial income streams and a final account generated for the completion of the car park development on site.
The results have been achieved while constructing The SSE Hydro, opening later this year, improving the existing SECC with new catering facilities, completion of the new onsite car park and relocating the heliport to pave the way for future commercial development.
“These are strong results – 2012/2013 has been a very challenging year for both The SSE Hydro construction and the business plan preparedness for handover,” said SECC chief executive John Sharkey. “The SSE Hydro has already generated exceptional results for commercial partnership activation which is now contracted at nine times the original business plan projections – this, in addition to forward bookings, indicates that the longer term mature business content is likely to outperform original projections.
“Of course, the SECC business and its importance to Glasgow and Scotland in terms of economic impact and employment generation, has never been about one sector and in that regard, as The SSE Hydro comes to completion, we are now also focussing on the existing SECC halls and the replacement of the business that will transfer over to the new arena.
“Exhibitions and conferences will play a key role in bringing in new content here and there will be an increased focus on trade fairs.”
The SECC has signed up to the AEV eGuide.
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