NEC Group records rise in operating profit

NEC Group has recorded an operating profit of £22.3m in the financial year to 31 March 2014 representing a growth of 2.3%.

The NEC Group records rise in operating profit
The NEC Group records rise in operating profit

The Group’s exhibition business, The NEC, saw operating profit increase by £3m to £34.3m, while the total number of events remained steady at 762.

Paul Thandi, chief executive officer, NEC Group, said: "Our long-term growth and diversification strategy allied to the gradual recovery of the economy are having a continued positive effect on the NEC Group.

"The financial result reflects a variety of successful initiatives to improve profitability across our businesses, and, together with new business wins, this creates a good platform for the years ahead.

"The exhibition business has demonstrated its market-leading position by working closely with customers to deliver another excellent result. Forward bookings across all the businesses for the coming years are strong."

In June, The NEC Group agreed a three-year partnership with Virgin Trains to offer event delegates a 25% discount on train travel to the Birmingham-based venues.

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