Motivcom commits to increase gross profit by 20%

Motivcom is committed to increasing its gross profit by at least 20% every year, despite being affected by last year's economic conditions

Motivcom accounts
Motivcom accounts

Motivcom has pledged to grow its gross profit by at least 20% each year, despite its latest annual accounts showing that gross profit dropped by 3% in 2009.

The firm has put the fall down to the "unprecedented economic conditions" last year, but chairman Colin Lloyd said the outlook for 2010 was "significantly more positive".

"2009 was a difficult year for many event management, hospitality and leisure bsuinesses," he explained. "Turnover on events did fall, in line with the sector, but overall net profitability was maintained through maximising supply chain and Group synergies. The outlook for 2010 is significantly more positive than the outlook 12 months ago, perhaps reflecting a more settled environment where clients do not anticipate further reductions in marketing budgets."

In the events part of the business, revenue tumbled by 6% to £41,795,000 from £44,358,000 in 2008. Meanwhile, in that sector, gross profit fell by 7% from £12,016,000 to £11,153,000.

However, the firm also reduced administrative expenses for events by £890,000 and, as a result, its operating profit came in at £1,735,000, compared to £1,728,000 the previous year.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
Trinity Event Solutions appoints managing director

Trinity Event Solutions appoints managing director

Jenny Harding steps into a new role after ten years at the agency, where she has also been recognised for charitable work.

Top 3 incentive trends for 2020

Top 3 incentive trends for 2020

What are the biggest luxury travel requests that incentive planners should watch next year?

Plans revealed for major new Edinburgh arena

Plans revealed for major new Edinburgh arena

The 8,000 seater indoor arena in Scottish capital is expected to include conference space and hotels.

What corporate event planners want from suppliers

What corporate event planners want from suppliers

Part eight of the State of the Industry Corporate Report asks what the most influential factors are when choosing suppliers.

Top Banana hires non-executive director

Top Banana hires non-executive director

New addition brings more than 30 years experience to the agency and will mentor and advise the leadership team.

Why there's been a surge of new hotels in Perth

Why there's been a surge of new hotels in Perth

Its pristine beachfront rivals California, with massive investment in tourism creating new hotels and jobs.

Case study: Hamburg hosts two global conferences in one week

Case study: Hamburg hosts two global conferences in one week

Global Investigative Journalism Conference and INMA Media Innovation Week took place in September.

Introducing the C&IT Awards Americas

Introducing the C&IT Awards Americas

As C&IT expands its reach globally, we're launching the C&IT Awards Americas to recognise the best in US events.

12 brand new US hotels opening in 2020

12 brand new US hotels opening in 2020

From festival-chic Coachella to foodie-heaven Chicago, Visit The USA picked out the 12 most exciting places to stay next year.

The simple secret behind creating 'magical' events

The simple secret behind creating 'magical' events

APAC industry leaders share some of the best and most memorable moments they have created at events.

LATEST JOBS