The Queen Elizabeth II Conference Centre (QEIICC), has announced further successful financial results that exceed its 2006/07 targeted revenue by 2.5 per cent and its targeted surplus by 26 per cent.
Turnover for the 2006/07 financial year was £10.40 million, from which the "conference centre":http://www.venues.org.uk/searches/conference_centres_venues.asp achieved a surplus on ordinary activities of £2 million. This enables The QEIICC to pay a year end dividend to the Government’s Exchequer of £1.55 million, again exceeding their target of £1.5 million and retaining the balance for future building improvements. The overall value for money score for this period was 98 per cent, successfully beating their target of 90 per cent.
“It is gratifying to report that we have again achieved our annual targets and to also report that our performance as a government trading fund meets every expectation,” says chief executive, Ernest Vincent. “We have now met our targets five years in a row and we plan to maintain this record well into the future. I am forecasting continuing growth of the business over the next five years and I base my assumptions on the fact that our forward booking calendar is strong and we have tangible plans to immediately increase the size of some of our largest conference areas.”