GL Events posts 14.8% growth and set for acquisition

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GL Events, parent company of UK-based temporary structure suppliers Snowdens and Owen Brown, has announced 14.8 per cent revenue growth for the first nine months of 2010. The company is also targeting 20 per cent growth by the end of the year.GL attributed the growth to recovery in the company’s international markets, with projects during the FIFA 2010 World Cup and 2010 Commonwealth Games in Delhi.More than half (52%) of the company’s revenues comes from international operations.Managing director of GL Events’ UK divisions Owen Brown and Snowdens, Alex Robertson, said the experience of being so closely involved in major global events “will undoubtedly be of great benefit as the focus of such events switches to the UK, firstly with London 2012 and secondly Glasgow 2014 in which we hope to play an active role supporting the relevant LOCOGS”.Looking to fourth quarter orders, GL Events said levels for reservations and commercial performances for large trade fairs were “satisfactory” and remained confident of achieving sales of more than €690m (US$971.4m), or annual growth of 20 per cent.The optimism was based on a favourable events calendar, with the G8 Summit in Lyon and the French presidential elections likely to provide big opportunities for the company.The group also said it expected to finalise an acquisition in the coming weeks and to gain control of further local and regional government venues throughout the world.
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