14 Aug 2012
NEC Group's annual performance 'marginally ahead' of expectations
BY Pete Hayman
NEC Group has reported financial results "marginally ahead" of expectations for the year ending 31 March 2012 amid difficult conditions for its exhibition and live events venues.
The group reported an operating profit of £16.9m and revenues of £111m for the 12-month period, with more than 700 events taking place and 3.5 million visitors to its sites.
NEC Group's Arenas and Ticket Factory division saw a 29 per cent fall in operating profits to £3.7m, which NEC Group said was as down to the "depressed" touring music market.
Group chief operating officer John Hornby said: "The consequence was a disappointing result in those areas which fell short of our budget expectations."
Click here for more information about the NEC Group's financial results for the year ending 31 March 2012.
Close Window