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Ashfield Meetings & Events announces double digit EBIT growth

Ashfield Meetings & Events announced its results for the Financial Year Ending September 2013, the last set of results under the former brand Universal WorldEvents.
EBIT (Earnings Before Interest and Tax) for the period was £3.860m compared to £3.314m in the previous 12 month period representing an increase of 16.5%. The numbers have been consolidated from accounts covering the companies' operations in the UK, US, Asia and mainland Europe.

Commenting on the performance Nicola Burns, Group Managing Director said, ‘We are delighted with this set of results. These have been achieved through a combination of operational efficiencies, growth of the engagement and live event services we provide and new business wins.’

Turnover for the period has grown to £91m from £90m. Burns pointed out, ‘Turnover is not a good measure of performance in the industry due to the increasing incidence of agencies such as us acting as a disclosed agent.’

Burns added, ‘These are a very encouraging numbers in a changing regulatory environment in the healthcare meetings and events sector. Individual performances have varied by country with strong performances both in the UK and US.’

Burns concluded by saying ‘New business wins and existing business development should help to ensure steady growth over the next 12 month period. Our engagement services will continue to add revenue across our existing client base and help increase our business conversion. We will be launching a secondary brand in the near furture to help position these services to market.’

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