Titanic Belfast profits slip despite rise in visitor numbers

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Titanic Belfast profits slip despite rise in visitor numbers

Postby Andrew Clarkson » Wed Mar 30, 2016 8:36 am

More people visited the Titanic Belfast visitor centre last year but the operating company behind the tourist attraction reported a fall in profit.

Titanic Belfast Limited said visitor numbers rose 2 per cent last year to 625,000, with three-quarters of visitors coming from 170 countries outside Northern Ireland. That figure was 45,530, or 8 per cent, ahead of the target set by directors for the three year old venture.

Revenue from conference and banqueting services also exceeded targets - by 15 per cent – and conference delegate numbers were 43 per cent ahead of projections.

Total revenue jumped almost 7 per cent in the 12 months to the end of March 2015 to £11.7 million.

However profit before tax fell by almost a third to £800,697 as administrative expenses jumped sharply.

Profit after tax of £502,596 was boosted by a £128,412 payment relating to a management charge received from a related business Ivywood, which had inadvertently not been included in the prior year accounts.

Read more; http://www.irishtimes.com/business/tran ... -1.2589674
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