The 2015 fiscal year was a successful one for the Durban International Convention Centre (Durban ICC) despite a tough economic backdrop, as the venue boosted the number of events it hosted by a fifth.
The company generated a revenue figure of R157m (US$10.2m), showing a year-on-year growth of over R5.3m (US$338,500) and a 20% growth in number of events hosted in 2015.
The centre also showed an improvement in its net profit for the year, increasing it by 32% from R24m (US$1.53m) in 2014 to R32m in 2015.
Speaking at the release of the centre’s Annual Report, chief executive officer Lindiwe Rakharebe said: “In spite of the challenging economic climate which has shown nominal improvement at best over the past year, the Durban ICC has managed to post profitable financial results for a fifth consecutive year.”
Durban’s municipal manager Sibusiso Sithole added: “As an entity of the eThekwini Municipality, the Durban ICC has a responsibility to deliver on its twin mandates of generating positive socio-economic impact to the citizens of our city whilst simultaneously operating in a responsible and profitable manner. I am pleased that the entity has delivered admirably on both these objectives during the 2015 fiscal year.”