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July 16, 2008

Central London venue reports rise in revenues

Turnover at the Queen Elizabeth II Conference Centre (QEIICC) rose by 3% year on year to £11 million for 2007/08. This strong performance was heightened by only a 2% increase in costs at the venue over the same period.

More than 368 meetings and events were held at the QEIICC during the 2007/08 financial year, with 65% of these repeating from previous years. A further achievement was the expansion of the third floor of the venue, enabling conferences for up to 1,300 delegates to be held, which has created opportunities to explore new markets.

As a result of an injection of both cash and talent, increased revenues from in-house audio visual (AV) facilities were also earned, with this income now representing more than 60% of the total value of room hire, a growth of 25% over the past five years.

Commenting on the results, QEIICC chief executive Ernest Vincent, said: "This is the fifth year in succession that I have been able to report positively about both our financial performance and business achievements. It's a result of hard work and great teamwork throughout the Centre. It's also about putting the requirements of the customer at the forefront of everything we do."

Progress has also been made at the venue with regards to sustainability. Leith's catering standards continue to be an important ingredient of the QEIICC’s success, and the last 12 months have seen a move to the use of more quality British products and the introduction of healthy menu options. Meanwhile, MITIE, the facilities company that manages the venue’s mechanical and electrical systems, has engineered substantial reductions in energy usage.

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