Manchester Central unveils a landmark turnover of £27.2m, showcasing a 6.2% growth from the previous year.
- The venue’s profit before tax climbed to £3.8m, bolstered by strategic expansion despite challenging economic conditions.
- Significant economic contributions of £137m were made to the Greater Manchester region, as visitor spending surged.
- The increase in large-scale and international events solidified Manchester Central’s influential status in the global events sector.
- Commitment to staff welfare and infrastructural improvements highlights Manchester Central’s forward-thinking approach.
Manchester Central has reported an impressive turnover of £27.2 million in its latest accounts, marking a growth of 6.2% from the previous year. The accounts submitted to Companies House for the year ending 31 March 2024 also reveal a profit before tax of £3.8 million, a significant rise from £3.2 million despite increased operational costs and the economic challenges of rising utility prices.
The venue’s contribution to the local economy was substantial, generating an estimated £137 million for Greater Manchester. For every pound spent by delegates at the venue, an additional £6 was circulated through the city’s hotels, restaurants, bars, and transport systems, underscoring the pivotal economic role of Manchester Central.
A surge in event bookings, particularly from larger and international organisers, has been a key driver of growth. The site hosted over 150 events, including The Conservative Party Conference, The Interflora World Cup, and the 2023 Hyrox World Championships. The forthcoming WOMEX event is anticipated to generate £28.3 million in business value, further testament to the venue’s allure.
Investment in employee welfare and venue development has been prioritised, with salaries aligning with the Real Living Wage and new training initiatives launched. The recently opened Junction—a bar, restaurant, and social space—is part of the venue’s modernisation efforts, enhancing its appeal to both delegates and the public.
CEO Lori Hoinkes expressed pride in the year’s achievements, highlighting Manchester Central’s adaptability amid economic uncertainties. She emphasised a strategic focus on long-term profitability and collaboration with fellow venues to reinforce Manchester’s stature as a global hub for events.
Manchester Central’s robust financial performance and strategic initiatives underscore its pivotal role in the region’s economy.
