Universal WorldEvents earnings leap to £3.31m

Leicestershire-based Universal WorldEvents has announced new figures showing its earnings jumping by 10 per cent. Announcing results for the Financial Year Ending September 2012, the full service agency said EBIT (Earnings Before Interest and Tax) for the period were £3.314m, compared to £2.996m in the previous 12-month period, representing an increase of 10.6 per cent.
 
The new numbers, the healthcare specialist agency said, had been consolidated from accounts covering the companies’ operations in the UK, US, Asia and mainland Europe.

Group Managing Director of Universal WorldEvents, Graham McIntosh, said: “We are delighted with this set of results. These have been achieved through a combination of operational efficiencies we have attained following the merger of UniversalProcon and WorldEvents in March 2011 and through growth of existing client business and new business wins.”

Turnover for the period was up to £90m from £85m. McIntosh noted that turnover was not the best measure of performance in the industry “due to the increasing incidence of agencies such as us acting as a disclosed agent”.

McIntosh added that the latest results were “an encouraging set of numbers in the context of a continuing challenging economic environment. We are still investing in a number of overseas markets and while individual performances have varied by country, we have seen good growth in the UK, US and Asia. New business wins and the growth of business with existing clients should help to ensure steady growth over the next 12 month period”.

Universal WorldEvents managed 1,700 meetings and events in 57 countries in 2012.
 
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Paul Colston

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Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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