The Queen Elizabeth II Conference Centre (QEIICC) has announced its half year financial results are well ahead of expectations.
The first six months of the financial year have been resilient - income is ahead of budget and the net surplus from trading is double what was forecast a year ago - according to Chief Executive Ernest Vincent.
"A year ago we were quite concerned about what lay ahead of us and the impact both the banking crisis and the recession could have on the meetings industry. We acted prudently and adjusted our forecast for the year based on some pretty gloomy forward predictions for the economy at large," Vincent said. "It hasn't turned out the way we expected and trading has remained very buoyant. We've lost some occupancy but nothing like the figure anticipated. We are hopeful that this performance can be maintained for the rest of the financial year to March 2010."
Over the summer, the QEIICC invested more than £1m in updating its interior. Uniquely situated against the backdrop of Big Ben, Westminster Abbey and the Houses of Parliament, the venue can host events for up to 2,500 delegates.
Read more news articles
