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IMEX organiser more than doubles profit to £7.2m

Regent Exhibitions also saw turnover rise to more than £30 million in 2017
04/06/2018

Pictured: Ray Bloom

IMEX organiser Regent Exhibitions saw turnover rise to more than £30 million in 2017.


And operating profit at the Hove-based firm more than doubled to £7.2m last year, from £3.5m in 2016, according to accounts filed at Companies House for the year ended 31 December 2017.


IMEX Group chairman Ray Bloom said: "We have done well, we’re very pleased with the results. IMEX America looks as if it will increase in 2018. I put the success down to the fact that we continue to produce high quality buyers at both shows.


“The strong support that we’re enjoying from the industry, that is fundamental. The buyer programme, the innovation constantly taking place and the relatively strong market in the industry are also critical. We have very strong partnerships with the industry across the world."


He added that there were a few factors that contributed to the results, including a reduction in charity donations and a favourable exchange rate.


Gross profit at the firm was up year-on-year from £10m in 2016 to £13.8m in 2017, with the profit for the financial year amounting to £5.6m, up from £2.6m in 2016.


The 2017 edition of IMEX America was the largest to date with 20 per cent of exhibitors booking larger spaces and 64 new booths. Total participants increased by 1 per cent to 5,852, including hosted buyers, while appointments rose from 60,000 to 70,000.

 
IMEX Frankfurt in 2017 saw trade visitors and buyers remain steady at 8,885, while appointments increased by 1,500 to 68,500.


Bloom added that the shows’ embrace of technology and innovation has been key to its growth.


He said: “We know that the buyer programme is the key, and we’re constantly finding that the development of technology is helping us to improve the shows. This is very much reflected in the number of appointment made, which is constantly increasing.


“The hosted buyers are sending or bringing with them RFPs, there’s been a tremendous increase and the technology is helping us all the time with this. They’re better prepared than ever before. It certainly enhances what we’re able to deliver.”

 
During the year the company made charitable donations of $50,000 to both the American Red Cross Society and the Las Vegas Victims fund following the shooting in Las Vegas and the floods and earthquakes that occurred just prior to IMEX America in 2017.

  • Hugo Ponsonby Smythe of PS Taker Ltd 04/06/2018

    “Reduction in charity donations”.... They made $100k in donations. Which means in other years they made more!! Some in our industry make a year’s worth of PR out of 10 per cent of this amount. Ray Bloom’s charity donations deserve applauding. Well played sir. BHAFC for ever. And Sussex by the Sea. See you at Arundel if not in Russia!


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