In its first accounts since the merger of UniversalProcon
and WorldEvents, which took place in March 2011, Universal WorldEvents
celebrated earnings before interest and tax of £2.9m.
According to officials, the year 2011 saw the merged agency manage more than
1,700 meetings and events - an increase from a little more than 1,100 in the
previous 12 months. Total delegate numbers at its events also rose from 100,000
in 2010 to more than 145,000 in 2011, with events taking place in 47 countries.
The accounts were filed for the year ending September 2011.
Universal WorldEvents explained that the accounts were
consolidated from seven sets of accounts of the companies’ operations in the UK, US, Asia and mainland Europe,
and thus were calculated on a pro-rata basis due to the fact that they spanned
several different financial years.
Graham McIntosh, managing director of Universal WorldEvents,
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 that have 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 £85m.”
Such thoughts were recently reiterated
by event agency Zibrant, whose managing director for sales and marketing, Fay
Sharpe, said: “We don’t measure turnover as our key monitor as this can
fluctuate based on whether we are the principal (in which case it is turnover)
or the agent (in which case only the commission or management fee income is
McIntosh concluded: “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
Pictured: Graham McIntosh, managing director of Universal