Industry loss-makers can "no longer bury heads in the sand"

One in three companies in the event industry is making a loss, according to new research by Plimsoll.

Plimsoll research warns loss-making companies
Plimsoll research warns loss-making companies

The study found out of the 661 companies surveyed, 202 are loss making as the recession continues to bite.

Of the 202 companies, the report reveals that 107 are making a loss for the second, and even third year running.
 
David Pattison, senior analyst at Plimsoll, said that despite the results, many companies can claim to be victims of difficult trading conditions. "A quick refocus on profitability would ensure this an isolated occurrence," he said.
 
However, he added that some businesses are selling at prices they cannot sustain. "Overall conditions are no excuse for a band of serial loss makers in the market. No one wants to trim costs, lay off staff or cancel dividend payments but carrying on regardless is now unviable. They can no longer bury their heads in the sand."

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