A conference centre has revealed its latest financial results and unveiled details of its investment programme.
Lane End Conference Centre in Buckinghamshire posted an operating profit of £432,834 on a turnover of £3,794,824 according to its unaudited results for the year ending August 2015.
Heni Fourie, sales and marketing manager, told CN that the firm has seen a significant increase in turnover of 19% since 2013 and the venue has focused heavily on refurbishment with a four-year plan due to be completed next year.
He said: “The project has been in motion since 2012 and is worth £2.2m with more than £550,000 invested each year.Strong financial figures tell its own story but recent success can also be attributed to ongoing refurbishment. It would be easy to rest on our laurels and simply retain our profits. But we understand the need to constantly evolve as a venue. The fact that we are an independent venue enables us to freely invest a considerable amount of our annual profit into refurbishment and maintenance.”
“The most recent development has been that of The Cedar Club which was completed back in August. That alone was valued at more than £950,000 but already it has had a significant impact on bookings and revenue. The completion of the entire project next year will maintain our position as one of the leading venues outside of London.”
Developments already completed include structural improvements to all meeting and training rooms which increase exposure to natural daylight as well as increasing Wi-Fi capabilities to 200mbps and the inclusion of high specification equipment.
Fourie said improvements include bedrooms in both Wycombe Lodge and Wycombe Court which are due to be completed in the summer of 2016 with more than £690,000 invested. The Pavilion, a self contained conference venue is also receiving a £200,000 refurbishment in December.
He said: “This development project will include a new 100-seat dining room and three large syndicate rooms to compliment the Pavilion’s main conference room.”