Universal World Events' pre-tax profits grow by 10%

Universal World Events has announced pre-tax profits of £3.3m - a rise of 10.6%.

Graham McIntosh, group managing director of Universal WorldEvents
Graham McIntosh, group managing director of Universal WorldEvents

Turnover for the period grew to £90m from £85m. The numbers have been consolidated from accounts for the financial year ending September 2012, covering the companies' operations in the UK, US, Asia and mainland Europe.

Graham McIntosh, group managing director of Universal World Events, said: ‘These results have been achieved through a combination of operational efficiencies that we have attained following the merger of UniversalProcon and WorldEvents in March 2011 and through growth of existing client business and new business wins.

"Turnover is not a good measure of performance in the industry due to the increasing incidence of agencies such as us acting as a disclosed agent."

He concluded: "These are a very encouraging set of numbers in the context of a continuing challenging economic environment. We are still investing in a number of overseas markets and while individual performances have varied by country, we have seen good growth in the UK, US and Asia. New business wins and the growth of business with existing clients should help to ensure steady growth over the next 12 month period."

Universal World Events announced this month that it has expanded into China.

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