28th July 2009
NEC Group gains £36.5m profits, with record takings for ICC
Events business the NEC Group has announced that it made an operating profit of £36.5 million in the year ending Ma. . .
<p>Events business the NEC Group has announced that it made an operating profit of £36.5 million in the year ending March 2009 under what it described as "difficult trading conditions".</p><p>The group's International Conference Centre (ICC) in Birmingham experienced record turnover and operating profit, in a year in which it became only the second UK venue to secure the ISO9001 quality standard and 14001 environmental accreditation.</p><p>NEC's exhibition business gained £40.3 million of profit, up by 6.6 per cent from 2007/8 but down by three per cent on a like-for-like basis, which was attributed to the effects of the economic slowdown.</p><p>"These are a good set of financial results," said John Hornby, chief operating office at the NEC Group.</p><p>"However, we are planning for 2009/10 to be a very challenging financial year. General economic and competitive conditions will hit the exhibition business very hard," he continued.</p><p>The news follows last month's report from the Queen Elizabeth II Conference Centre that it enjoyed a successful financial year, hosting 384 meetings and events and making significant improvements to facilities.<br/><img alt="ADNFCR-1753-ID-19285656-ADNFCR" src="http://feeds.directnews.co.uk/feedtrack/justcopyright.gif?feedid=1753&it..." /></p>