Glasgow's SECC reports record profit and turnover

The Scottish Exhibition + Conference Centre (SECC) in Glasgow has reported its highest ever pre-tax profit of £6.7 million, for the 2014/15 financial year.

The 50% turnover increase has been attributed to the success of the SSE Hydro arena during its first full year of operation, and the Commonwealth Games, which were held in Glasgow last year.

Commercial turnover for the year also increased by 98%, which was largely driven by sponsorship and hospitality. As a result of the growth in business, overall operating costs increased by 21% from £23.1m to £27.9m.  

Peter Duthie, Chief Executive of SECC, said the results were outstanding. "We welcomed the 2014 MTV Europe Music Awards ceremony, the Ryder Cup Opening Ceremony Gala Concert and the BBC Sports Personality of the Year.  As a result of the business conducted by the company, the net additional expenditure in Glasgow was estimated at £485m, in Scotland £273m and in the UK, £117m.  The SECC was a key venue for the Commonwealth Games however it is important to note that these expenditure figures exclude any impact from this event."

He added that the SSE Hydro has been a major catalyst for growth, hosting more than 130 live events and performances and attracting more than a million visitors. The 2014/15 growth in the conference and exhibition sectors, which expanded by 12% and 8% respectively, was due to the increased availability of space at the venue. 

Councillor Gordon Matheson, leader of Glasgow City Council and Chair of Glasgow City Marketing Bureau, said Glasgow has become one of the highest performers in the tourism and events industry, predicting further growth for the year ahead.

More:

Glasgow to welcome £90 million conference centre 

Scotland experiences business events boom

SSE Hydro, Glasgow

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