from The Scotsman today:
Conference centre talks up £23m boost
JIM STANTON BUSINESS EDITOR (jstanton@edinburghnews.com)
"THE Edinburgh International Conference Centre (EICC) delivered a £23.6 million boost to the Capital's economy last year, the company reported." ...
"EICC, which runs Edinburgh's flagship conference venue and oversees the development of the surrounding ten-acre Exchange district site, reported a pre-tax loss of £634,909 in the year to December 31, according to its latest accounts sent to Companies House.
That was an improvement of almost 28 per cent on the £881,739 deficit booked the year before.
Turnover was up by 9.1 per cent "as a result of an increase in sales of additional event services and from increased site development revenues".
And although the cost of boosting business rose by 7.4 per cent it was offset by savings in operating and administration expenses." ...
"Despite the overall loss the company said it had exceeded its financial targets for the year with the actual activities at the conference centre producing a profit at the operating level for the fourth successive year.
Over the reporting period, EICC, which employs around 60 staff and is run by chief executive Hans Rissmann, said it had continued to target "high yield" business. Of the 99 events staged at the Morrison Street venue in 2006, 17 were "international" gatherings." ...
"EICC said the 117,465 "delegate days" generated an economic impact for the city of £23.6m, a rise of 7.2 per cent on the year before." ....
"In its report, EICC said it continued to progress plans to add additional conference and exhibition facilities next to the current venue.
A previous £80m scheme to expand capacity was shelved, setting the EICC's plans back.
But two weeks ago, the plans looked to be back on track after council leaders unveiled plans to kick-start the creation of a major underground extension to the 12-year-old complex below a new office block next door." ...
"But the extra space is not expected to be ready until 2012 - three years later than planned." ...
For the complete article:
http://business.scotsman.com/media.cfm?id=1759732007
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