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New London offices while operations base is closed in mclcreate restructure

Company posts pre-tax loss of £447k after group charges and exceptional items are taken from £432k operating profit

Pictured: Tim Spencer, MD of mclcreate

Conference and AV hire specialist mclcreate has undergone a restructure in the latest stage of its five-year transition to full service event management provider.

The company, formerly known as MCL, posted a pre-tax loss of £447k in annual accounts for the year ended 30 September 2015, but MD Tim Spencer said operating profit had hit £432k for the year, and the bottom line figures were reached after group charges and exceptional items were deducted.

Last year mclcreate closed its operations facility at Greenford in north-west London with the loss of three jobs and opened a new office in Soho Square.

The company is expanding its Edinburgh operation to a larger facility in the Scottish capital; it also has branches in London, Glasgow, Birmingham and Manchester.

Turnover was also down for the company, part of the Avesco Group, to £14 million from £14.4m in 2014 – although this was attributed to a “very specific project which happens every four years”.

Spencer said: “The figures are in line with our development plan. We are now into the third year of the plan; it was not an exceptional year but it was not disastrous.

"Given the restructuring that we are doing, it is very much in keeping with what we had predicted.”

The plan to transform mclcreate into a full service company is designed to best meet client needs, Spencer added. Creative services have been added, as have event and delegate management functions and a suite of digital services.

“We looked at what our clients need across the country,” he added. “We are investing in staff that can provide full service to our clients. We are doing this on the back of returning a profit for Avesco Group.”

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