In its final set of results before its merger with WorldEvents, UniversalProcon today announced its results for the financial year ending September 2010 which show Profit Before Tax at a consolidated level, including the US and travel related subsidiary ATW, at £2,156,051. This compares with a corresponding figure of £(168,600) for the year ending September 2009. The previous financial year’s numbers were severely dented by significant write downs relating to property lease costs and a technology related project.
At a UK level the company has turned around a loss of nearly £1.75m to a profit of £0.6m.
Commenting on the turnaround Graham McIntosh, formerly Managing Director of UniversalProcon and now Managing Director of Universal WorldEvents said: “The level of profitability is a reflection of continuing business development success and new business wins. It is also a measure of the fact we have got the business operating smoothly since our acquisition of Universal in 2008 and its subsequent merger with Procon.”
The company won a significant number of new pieces of business during the period. One of the largest projects was for a global healthcare client where the company teamed up with WorldEvents in June and then subsequently won the business a number of months later.
McIntosh concluded by saying: “We are delighted with these numbers which demonstrate our ability to deliver strong profits even in what are still challenging market conditions. Our strategy of focusing on the Healthcare sector has proven to be a sound one.”