SECC announces £29.5m turnover for 2012/13

The Scottish Exhibition and Conference Centre (SECC) has reported pre-tax profits of £1.4m for the year 2012/13.

SECC announces £29.5m turnover for 2012/13

Turnover for the group stood at £29.5m, an increase of 9% on the previous year.  

Cash balances at the year-end of £29.3m were significantly up on the equivalent level of £8.3m in 2011/12.

The results come as construction of the SSE Hydro is still underway. The building was blighted by a fire on 8 June, which saw 40 fire fighters tackling flames in the roof of Scotland’s newest event venue.

John Sharkey, chief executive of the SECC, said: "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. The SSE Hydro has already generated exceptional results for commercial partnership activation which is now contracted at nine times original business plan projections – this, in addition to forward bookings indicates that the longer term mature business content is likely to outperform original projections.

"However, the fire which took place in June of this year was significant and there is still much to do but the client team is continuing to support the main contractor to remediate the damage as we aim for our opening in line with original timescale," he added.

As the Hydro nears completion, Sharkey said the business would now focus 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," he said.

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