Venues Event Management reports £34m tunover

Venues Event Management has posted an increased turnover of £34,169,313 for the past 17 months to 31 October 2011, after aligning its financial reports with parent company Expotel Group.

Venues Event Management reports increased £34m tunover
Venues Event Management reports increased £34m tunover

The turnover figure compares to £18,379,310 for the year ending 31 May 2010.

The agency increased its financial reporting period to 17 months to bring it in line with Expotel’s figures, after becoming a division of the company in 2010.

The figures also show pre-tax profit fell in the 17-month period to £262,795, compared to the £276,406 reported for the year to 31 May 2010.

Allen Farmer, commercial director of Venues Event Management said the decrease in profit was due to a £300,000 management fee paid to Expotel. He added that it was currently unconfirmed whether the management fee would be paid again in future.

He said: "Becoming part of the Expotel Group in November 2010 has had a positive impact on business along with a number of new client wins including financial consultancy Jelf, and investment company Skandia. We were also awarded large events with existing clients including Santander, Trader Media Group and BP."

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