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MCI GROWS PROFIT BY 16 PER CENT
2009. 28 May
(meetpie.com)
MCI grew its turnover by more than 15 per cent during 2008, rising from €181.7m (£157.9m) in 2007 to €210.2m (£182.6m).
Gross profit also increased by 16 per cent to €58.9m (£51.2m). MCI said corporates represented 55 per cent of 2008 revenues, and associations the remaining 45 per cent.
The company’s Asian operations experienced a 182 per cent rise in gross profit compared with 2007, generating €3.3m (£2.9m), due mostly to the opening of new offices in Bengaluru, Delhi and Hong Kong, and mergers in Singapore and Mumbai.
MCI hopes to continue this growth using its status as Service Partner of the 2010 World Expo in Shanghai. It aims to drive meetings and conference business to the 184-day long event starting next May, where it has secured several on-site event venues.
“We have been in discussion with the government and we’re about to gain access to several national pavilions,” said Daniel Tschudy, senior advisor special projects, MCI-Shanghai Office. “We have just signed an agreement with the Swiss Pavilion to make two VIP rooms available for MICE activity.
“We’re going out to existing corporate clients to push traffic to Shanghai in 2010. We will also target small associations. I believe we will get annual congresses for next year and hopefully create a long term relationship beyond 2010. It’s a wonderful tool to promote us and catapult us into the future.”