VW, BMW and Mercedes among clients bolstering Motivcom's 2011

Motivcom's Nigel Cooper has told C&IT that the group's £29.5m gross profits were part-driven by strong performance from the financial services and automotive sectors, including clients Land Rover Jaguar, VW, Toyota, Mercedes and BMW.

VW, BMW and Mercedes among clients that bolstered Motivcom's 2011
VW, BMW and Mercedes among clients that bolstered Motivcom's 2011
Cooper, Motivcom's events managing director, said that the firm's 6% hike in gross profit - as reported by C&IT yesterday - highlighted "growth in our business rather than increasing profit by making cost-cuts".

He acknowledged the challenges faced by the industry, saying: "There's no hiding the fact that the event market has been really tough for four or five years." He cited causes including perception issues arising from the negative press surrounding banking bonuses, to companies cutting spend in the face of recession.

"We've had a resilient performance in the financial services sector," he said. He added that while some insurance companies started reinvesting in incentive travel, others were still refraining from spending money on incentives. "It's a very mixed position - a lot of banks are not doing long-haul incentives."

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