Manchester Central has reported record revenue and a rise in profits despite facing rising costs.
The events giant posted a turnover of £27.2m for the year to March 31 – up from £25.6m in 2023. That helped it to a pre-tax profit of £3.8m, up from £3.2m in 2023, accounts filed on Companies House reveal.
Events hosted over the year included the “technically challenging” Conservative Party conference, the Interflora World Cup – held in the 海角视频 for the first time – and the Hyrox World Championships. The number of people attending events rose from 360,000 to 467,000.
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The annual report said: “The administrative expenses of the company have risen from £14.3m to £15.6m, as a result of costs incurred with scaling up the business and the continued pressure (of) utility costs. Despite the company introducing many new measures to reduce utility consumption, it is not shielded from the wider issues impacting market rates.”
The report also details the venue’s impact on the Manchester economy. It says that over the year it helped to contribute £137m to the regional economy, as for £1 delegates spend there, £6 is spent in the wider city at hotels, bars, restaurants, shops and for transport.
The business also provides retail catering, hospitality and event services to Manchester Town Hall and Central Library, and is contracted to run catering and event services at Runway Visitor Park at Manchester Airport.
Lori Hoinkes, chief executive of Manchester Central, said: “I’m pleased with our latest financial results. We have seen a remarkable year of events at Manchester Central, and the increase in both turnover and profitability is testament to our agility as a business and the strong offering we can provide to event organisers who wish to host with us.
“Despite navigating an unsettled economic climate with rising costs, particularly in energy and utilities, our strategic focus on long-term profitability has allowed us to confidently invest in our venue. This ensures we continue to meet modern expectations both in terms of our facility offering, and also amongst our team, and I'm pleased to carry this commitment forward into the coming year.
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“We also continue to liaise with brands to create long-term partnerships and secure multi-year contracts, leveraging the quality of our service, the strength of our business and the increasing interest from international organisers in the economic growth of the North West.
“Operating in a heavily competitive landscape, it could be easy to assume a nervousness or apprehension of new entrants, however we aim to work in conjunction with our fellow venues, including the Co Op Live and Aviva Studios (Factory International) to ensure that together, we are firmly positioning Manchester on the map as one of the key global cities of choice for events and entertainment.”
Manchester Central is a subsidiary of Destination Manchester and is ultimately controlled by Manchester City Council.
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