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June 12, 2015
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UK: Commonwealth Games, New Arena Drive £7 million Profit for SECC




The Scottish Exhibition + Conference Centre (SECC) has revealed a record pre-tax profit of £6.7 million.

In figures driven by last summer’s Games in Glasgow, and the first full year results from the £125m SSE Hydro, the centre witnessed a 50 per cent increase in turnover, while income from sponsorship and hospitality saw commercial turnover soar by 98 percent. Earnings before interest, taxes, depreciation, and amortization (EBITDA), rocketed to £9.1m, the venue has reported.

The results also revealed significant increases in conference and exhibition revenues, which were up 12 per cent and 8 per cent respectively.

A full year of live events and concerts in the 12,000 capacity Hydro meant live entertainment turnover was up by almost half.

Peter Duthie, CEO of the SECC, said: “These are outstanding results which should be measured, not only in financial terms, but also by the increased economic impact generated by the campus with over 2.15 million visitors and numerous prestigious events held during the year."

Read more at MeetPie.com...
 


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