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April 1, 2014
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UK: Motivcom's 2013 Profits Fall on Lack of New Business

colin lloydA drop in the number of delegates and a lack of new business wins has led to a drop in profits for the event arm of Motivcom.

Accounts for the year ending 31 December 2013 show gross profits for the meetings and event management division of the group fell by 18 per cent to £12.2 million. 

Operating profits also plummeted, dropping 50 per cent to £900k in what the group's bosses referred to as 'a year of evolution'.

In a statement, chairman Colin Lloyd said: "The event management and live production areas have continued to see budgetary pressures and reducing numbers of delegates impacting volume, average spend per head and profitability.

"Whilst a flat performance was expected for the events business area in 2013, the final outturn was impacted by lower-than-expected new business intake in this area towards the end of the year. The board remains cautious about the levels of new events business in the meetings and events business."

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