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Fall in events leads to 44 per cent profit decline at Marcus Evans

Global company blames fewer events and higher staff costs for fall in 2015 profits

Pictured: Marcus Evans, which has 59 offices around the world, organises conferences and training days

Marcus Evans has blamed fewer event numbers and higher staffing costs for a significant decline in its 2015 end of year profits, with pre-tax profits down by £1 million while turnover fell £600k.

The global business conferences, training and corporate hospitality provider, which has headquarters in London, saw pre tax profit fall by a 44 per cent to £1.3m and 7 per cent decline in turnover to to £8m.

At the same time, administration expenses rose 24 per cent from £2.1m to £2.6m, according to figures for the year ended 30 September 2015.

Marcus Evans produces business summits, webinars, professional training, sports hospitality and strategic conferences and employs 3,000 staff worldwide.

In the strategic report, the company stated: "The directors consider the key performance indicators of the company to be the number of attendees or delegates per event and the number of events held. The directors consider that the number of attendees and delegates per event and number of events held is in line with expectations of management. Turnover has decreased by 7 per cent due to a reduction in the number of events held."

A principal risk identified in the report was a lesser demand for events as a result of a "deterioration in market conditions and reductions in corporate spending". A request for interview was made to the company.

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