Durban’s ICC best performing in SA


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INLSA

Durbans ICC posted positive results this year by achieving above-target revenues and effectively controlling costs.

Durban’s International Convention Centre complex has posted another strong performance for this financial year, after a record performance last year and receiving a clean audit from the auditor-general.

The ICC, which includes Durban’s Exhibition Centre, said yesterday that its revenues for the 2012/13 financial year came in at R157 million, with profits before tax of R45m. Its net profit was R35.5m which, the centre’s management said, made it the best performing ICC in the country.

Revenues, however, were down from R237m the previous financial year, when the ICC delivered its best performance on the back of major events such as the UN’s COP17 climate change conference.

The centre’s net profit before tax was R69m last year.

The ICC said it continued its cost-cutting measures. It managed to contain expenditure to 15 percent below budget, which resulted in a R13m saving, despite inflationary pressures.

Mato Madlala, chairwoman of the ICC board, commended its management and team under the leadership of chief executive Julie-May Ellingson.

“Despite tough competition, the Durban ICC has maintained its position at the front and, once again, our team, stakeholders and, most importantly, our clients, have ensured that the Durban ICC remains the best convention centre in Africa,” she said.

Ellingson said the ICC was proud of its performance.

“Despite the challenging economic environment, the company has worked hard to secure quality events this year as well as sustainable business for the years ahead,” said Ellingson.

She said the ICC was built to serve as an economic catalyst for Durban, and the latest results showed that the ICC had delivered major economic benefits. According to the ICC, the past 12 months saw it contribute R2.94bn in spin-offs to the national gross domestic product, with the bulk of this benefiting the KwaZulu-Natal economy.

Ellingson said the ICC would continue to host high-profile events.

These included the Congress of the International Union of Architects next year and the world’s largest aviation exhibition, the World Routes Development Forum, the year after that. - The Mercury


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