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Olympia sale on hold after improved financial performance

A review by the London venue's owner concluded that Olympia should be retained after 19 per cent spike in earnings

Pictured: London Olympia will not be sold by owner Capital and Counties, a review has concluded

The potential sale of London Olympia has been put on hold by owner Capital and Counties (Capco).

Last year, Capco instigated a strategic review into whether the conference, events and exhibition centre should be sold, and was valued at an estimated £300 million.

The review has concluded that, due to improved financial performance, Olympia should be retained as part of its venues business.

Capco’s interim results for the six month to 30 June 2016 revealed the venues business had achieved earnings before earnings before interest, taxes, depreciation, and amortization (EBITDA) had increased by 19 per cent to £11 million. 

“Olympia London continues to cement its status as the venue of choice for premium shows in central London,” Capco’s operating statement said. 

“The venue has had a busy start to 2016 with over 90 events hosted to date including two of the UK’s largest exhibitions, London Book Fair and Ideal Home Show, reflecting its excellent prospects as a central London venue.

"As previously reported, Capco has undertaken a strategic review of the Venues business. This review has concluded that, whilst the business is not a long-term core holding for Capco, ownership will be retained as it offers a reliable and growing income stream.”

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