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ACC Liverpool makes £582k loss despite record turnover

The group delivered a turnover of £25.8 million and an improved trading position on 2016

Pictured: ACC Liverpool

The ACC Liverpool Group has recorded an operating loss of £582k, despite achieving its highest annual turnover since opening in 2008.
The company, home to BT Convention Centre, Echo Arena, Exhibition Centre Liverpool, Pullman Liverpool hotel and TicketQuarter, delivered a turnover of £25.8 million, compared to £17.2m for the previous 12 month period.  Figures are based on audited accounts for the year ended 31 March 2017.
The results recorded by The ACC Liverpool Group show an improved trading profit position and an operating loss of £582,000, after adjustment for the impact of the latest valuation of the company pension scheme. In 2016, the venue recorded an operating loss of £2.7m.

During the year, 258 events took place attracting more than 660,000 delegates and visitors. A total of £204m in economic benefit was generated for the Liverpool city region bringing the overall economic impact since the complex opened to more than £1.4bn.
Conference highlights included the Labour Party conference and a series of international congresses such as the Union World Conference on Lung Health and the European Association for International Education.  Meanwhile, Exhibition Centre Liverpool hosted 25 events including the International Business Festival and The Allergy and Free From Show.
Bob Prattey, chief executive of The ACC Liverpool Group, said: “The financial year 2016 – 17 was a year of rapid expansion for The ACC Liverpool Group with turnover increasing from £17.2m in 2015-16 to £25.8m in 2016-17.
“This was in part due to the first full year of trading for Pullman Liverpool and Exhibition Centre Liverpool, coupled with strong performance and growth in our existing markets, which has been made possible due to the additional space available with the completion of Exhibition Centre Liverpool.
“We are forecasting a further increase in revenues as we continue to expand our business and host major events.
“The operating loss of £582,000 we are reporting for 2016-17 masks an improved underlying trading performance and we expect this to continue to improve during the current year 2017-18.”
Recent developments including the launch of The Liverpool Collection Lounge in September 2017, a new mezzanine floor constructed inside the arena concourse which has been transformed into a stunning hospitality space with spectacular views across the waterfront.

Returning conferences in the new year include BBC Worldwide Showcase, Lyreco and, in September, Labour Party conference.  The International Business Festival will return for a second time in 2018.  Future exhibitions include Liverpool Comic Con, The Gin to my Tonic Show and National Dog Mania.
Prattey added: “2018 is a significant year for us as we celebrate a decade since we opened the doors to our arena and convention centre.  We are hosting some fantastic events throughout the year to celebrate this milestone - kicking off with Sgt Pepper: Live on January 13 - alongside this, 2018 will be another busy year of national and international conferences; public and trade exhibitions and entertainment events.
“As a result, we’ll continue to welcome increasing numbers of visitors to our campus and add to the more than £1.4bn in economic impact we’ve generated for the city region since 2008.”

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