Etc Venues grows profits by 51%

The venue group boosts pre-tax profits by 51% to £3.4m

Etc Venues' Maple House, Birmingham
Etc Venues' Maple House, Birmingham

Etc Venues has grown pre-tax profits by 51% to £3.4m in the year to June 30.

The group said its unaudited results for the period included an increase in EBITDA (earnings before interest, tax, depreciation and amortization) of 51%.

It also boosted turnover by 36% to £14m in the period.

Etc Venues is investing £5.5m in upgrading and expanding new and existing venues this year.

Among the planned upgrade works are refurbishments of Etc Venues' properties in the City and London Bridge. Elsewhere, Avonmouth House in Southwark will close in August for refurbishment work.

The meeting space on offer at London's Dexter House will be expanded by 30% in September. It will include nine new meeting rooms, boosting capacity to more than 600 delegates.

Etc Venues managing director Alastair Stewart was optimistic about winning business in the tough economic climate. "I am positive about the short term as our order book for the next six months is 20% ahead of last year and we have benefited from very high levels of client retention and a major new client won from a serviced office group."

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
Helicopters over Hawai'i - the best venues, hotels and activities

Helicopters over Hawai'i - the best venues, hotels and activities

A six-day account of aerial adventures across Kaua'i, O'ahu and Hawai'i in A Diary of a Delegate.

TRO appoints two experiential specialists

TRO appoints two experiential specialists

Agency welcomes Sulmaan Ahmad as head of strategy and Simon Patel as creative director.

'Push the boundaries - if someone says something can't be done, I'll find a solution'

'Push the boundaries - if someone says something can't be done, I'll find a solution'

A-List 2019: Matt Culverhouse, chief executive of TEN6 Creative.

In pictures: IMEX 2019

In pictures: IMEX 2019

The annual industry gathering took place from 21-23 May at Messe Frankfurt in Germany.

TEN6 Creative brings in new client services director

TEN6 Creative brings in new client services director

Oliver Morgan joins agency after 10 years with Gold Key Media and will be 'instrumental' to continued growth.

'To hear Michelle Obama say we'd done a great job and get a hug was incredible'

'To hear Michelle Obama say we'd done a great job and get a hug was incredible'

A-List 2019: Kylie Davies, account director & general manager, emc3.

Behind the glitz at award ceremonies

Behind the glitz at award ceremonies

UKSV's Neil Coombes takes us through the planning and setup process for the AA Hospitality Awards

First New York location for etc.venues

First New York location for etc.venues

Venue specialist also adds Chancery Lane location to its London portfolio, with both to open later this year.

Case study: Lenovo Connect

Case study: Lenovo Connect

The technology giant's two-day event for 450 guests took place in London, organised by Jack Morton Worldwide.

Two new recruits for Sleek Events

Two new recruits for Sleek Events

Agency also plans fundraising sports day this summer for its new charity partner Meeting Needs.

LATEST JOBS