Universal WorldEvents posts first year results

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Universal WorldEvents has posted its results for the year ended September 2011 with earnings before tax and interest coming in at £2.996 million.

This is the first financial year end since the merger of UniversalProcon and WorldEvents which took place in March 2011. The numbers have been consolidated from seven sets of accounts covering the companies’ operations in the UK, US, Asia and mainland Europe. Due to the fact they span different financial years they have been calculated on a pro rata basis to reflect the 12-month financial year.

Graham McIntosh, managing director, Universal WorldEvents (pictured), said: “The results are a good indication that we have managed the merger of the two businesses successfully. They factor in costs associated with the merger which have been offset by a combination of business development and new business wins which has underpinned our growth.

“Turnover is becoming an increasingly poor measure of performance in the industry due to the increasing incidence of agencies such as us acting as a disclosed agent. Taking this into account our equivalent turnover figure for the period was £85 million.”

2011 has seen the agency manage more than 1,700 meetings and events – an increase from just over 1,100 in the previous 12-month period. Total delegate numbers have also risen from 100,000 in 2010 to over 145,000 in 2011, with events taking place in 47 countries throughout the world.

McIntosh concluded: “We are pleased with these numbers in the context of a 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. Our new business wins should help to ensure steady growth over the next 12 month period.”