DMG Events divestment leads to 37% revenue decline

Twitter Facebook Google+ LinkedIn
The Daily Mail and General Trust’s (DMG) events division has experienced a decline in revenue of 37 per cent to £110m (US$172m), due in large part to its recent divestment of businesses.The company’s profits also dropped by 19 per cent to £30m, attributed by DMG to the late-cycle nature of exhibitions and the absence of results from two of its three major biennial events, Gastech and Adipec, which had a strong year in 2010. DMG’s sole large international biennial event this year was the Global Petroleum Show, held in Calgary in June.Business for DMGT elsewhere was mixed, with the group’s underlying operating profit rising by 10 per cent, according to these preliminary figures. Net debt also dropped by £187m to £862m, however revenue for the group declined by six per cent overall.Throughout the year the company has restructured its events division, which is now organised into five operating units covering retail, energy, leadership conferences, digital marketing sectors and a regional unit in the Middle East.Its largest show, the bi-annual New York International Gift Fair, had a strong year with the summer edition experiencing year-on-year growth in terms of both visitor attendance and revenue. Other key shows include the construction show Big 5, held in Dubai, and the Global Petroleum Show. Together, these shows contributed 45 per cent of DMG Events’ underlying revenue.The division claims it has ‘aggressively expanded’ its programme of sponsorship-driven leadership conferences under its Evanta brand, and now offers events for financial and human resource professionals, as well as chief information officers.Commenting on the results, DMGT chief executive Martin Morgan talked about the company’s move towards digital and online products as route to future growth.“Although we remain cautious about the medium terms outlook, particularly given continuing economic uncertainties, we are well placed to continue investing in out business to strengthen their market positions and to take advantage of improving conditions as they materialise,” he said. “DMGT has always been a first mover in the media and information industry. We recognise that our future is largely digital, whether it be in the consumer of B2B markets.”
Twitter Facebook Google+ LinkedIn

Related Stories

Elsewhere on EN

AEO launches Development Board

AEO launches Development Board

The Association of Event Organisers (AEO) has announced the formation of a Development Board, with the aim of ensuring that the AEO delivers value to all members.
F3 secures Watford FC contract

F3 secures Watford FC contract

F3, the joint venture between One Event Management and Legends of the US, has won a 10-year contract with Watford Football Club.
MA Exhibitions appoints LiveBuzz as exclusive partner

MA Exhibitions appoints LiveBuzz as exclusive partner

MA Exhibitions, the exhibitions arm of media company Mark Allen Group, has appointed LiveBuzz as exclusive registration partner across its entire exhibition portfolio.

WATCH THE EN AWARDS 2016 HIGHLIGHTS


silverstream.tv

Most read Stories

EN Awards People Finalists revealed

EN Awards People Finalists revealed

The first group of the highly anticipated shortlist for the EN Awards has been announced, including Best Newcomer and Best Event Director categories.
Reactions from events industry following Britain’s vote to leave EU

Reactions from events industry following Britain’s vote to leave EU

As the UK has voted to leave the European Union with a 52 per cent majority result, EN has spoken to members of the exhibition and events industry, to gauge their initial reactions on the future of the UK and their businesses.
And the Show category finalists are...

And the Show category finalists are...

The final shortlist group for this year’s EN Awards has been announced, including Best Consumer Show Marketing Campaign, Best Brand Expansion and Best Trade Show.

Latest Features

The big picture

The big picture

Imagine you could find all the photos taken at your event...well now you can, says Gaggletag founder Gideon Summerfield.
The talent of a nation

The talent of a nation

Following the launch of Connect16 this year, EN catches up with founder Nicola McGrane on experiencing the essence of Ireland.
EN30/30 Breakfast Club in November

EN30/30 Breakfast Club in November

Tasting the delicacies of ExCeL London’s River Cottage, members of the EN30 gather to discuss recruitment, working from home and the potential death of email.

Latest Galleries

ESSA 2016 Conference of Things

ESSA 2016 Conference of Things

This year’s ESSA Conference achieved a record attendance of delegates from across the events supplier industry, representing over 100 companies at Ricoh Arena, on 24 November.
The Prosthetics Event 2016

The Prosthetics Event 2016

Exhibition, education and shopping show The Prosthetics Event, returned to Conference Aston in Birmingham for the third consecutive year on 19 November.
World Travel Market London 2016

World Travel Market London 2016

World Travel Market (WTM) London 2016, which took place on 7-9 November at ExCeL London, celebrated its most successful show yet with a joint record attendance of 51,500.

Latest Opinions

Paul Byrom: Opportunity knocks

Paul Byrom: Opportunity knocks

Paul Byrom, AEO chairman and MD at Upper Street Events on the formation and goals of the new AEO Development Board
The height of safe practice

The height of safe practice

Andrew Harrison, ESSA director on continuing to build a robust, safety-first, working culture in events and exhibitions.
All part of the plan

All part of the plan

Kevin Horler, project director of Vividfish Ltd, on the importance of creating an inbound marketing strategy for your next exhibition.