NEC RECORDS GROWTH IN ANNIVERSARY YEAR
Birmingham's NEC, which turned 40 in February, has recorded business growth for the financial year 15/16 having contracted 22 new exhibitions worth a rental value of £3million and exceeding its revenue targets by an impressive 6.14%.
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Big business wins, including the Insomnia Gaming Festival, which signed up for 10 shows across three years and the return of IPEX to the NEC in 2017 following its relocation in 2015, have been key contributors to the venue's success.
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The NEC has seen growth in like-for-like exhibitions compared to the previous year, with hall and suite rental increasing by an average of 3.7% and organisers using an average of 2.5% more exhibition space. Impressive growth was also recorded for shows hosting their second show at the NEC, with events physically growing by an average of 25%; welcoming around 28% more exhibitors and 21% more visitors.
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In 2015/16, the NEC, which already hosts more events than any other venue in the UK, welcomed 2.15 million visitors and over 35,000 exhibitors to 522 events.
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Commenting on the results, Ian Taylor, Sales Director for the NEC, said: “We are proud of our performance this year and are now working hard to keep the momentum going. We are in fantastic position for 2016/17 with 85.9% of our budgeted exhibition business already contracted.
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“It isn't just about winning new business though, it's about ensuring that we maximise every opportunity. Income from our ancillary services which add value to our organisers and exhibitors has increased by 7.3% year on year. Despite a fantastic 15/16, we have no intention of resting on our laurels; we want to ensure that this level of business growth continues.â€'
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Kathryn James, Managing Director of the NEC, said: “It's been an exceptional year for us; the venue celebrated its' 40th year, Resorts World Birmingham opened on our site which turned us into a 24/7 destination and we smashed our sales targets. We know that our success can, in part, be attributed to a recovering economy, but without the fantastic teams that we have working behind the scenes, we wouldn't have been able to capitalise on these opportunities – it's been a true team effort.
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“It's an exciting time to be part of the NEC with a number of big developments on the horizon, including the development of HS2 and new inward investment opportunities with UK Central, which will transform the landscape of our campus and positively impact our business. Our focus now is to prepare for the future and reinvest to ensure that we continue to help our organisers deliver fantastic events for customers.â€'
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