Central London events venue the Queen Elizabeth II Conference Centre (QEIICC) has exceeded its 2006/07 targeted revenue by 2.5% and its targeted surplus by 26%.
 
Turnover was £10.40 million, from which the venue achieved a surplus on ordinary activities of £2 million. This enables the QEIICC, which is owned by the Department for Communities and Local Government, to pay a year-end dividend to the Exchequer of £1.55 million, beating its target of £1.5 million. The balance will go towards future building improvements.  
 
Other performance targets have also been exceeded for the 2006/07 financial year. For example, the number of complaints received per 100 events was 0.74, with the target set at less than 2, while the average response time to deal with complaints was 2.6 days, from a target of less than 4.

Over this period, the QEIICC welcomed several new clients and hosted around a quarter of a million business and professional visitors at its events. Among these were numerous senior members of the Government as speakers and international delegates from Europe, the US, Russia, Africa and India.
 
Chief executive, Ernest Vincent, commented: “It is gratifying to report that we have again achieved our annual targets and to also report that our performance as a government trading fund meets every expectation. We have now met our targets five years in a row and we plan to maintain this record well into the future.”   

Vincent predicted the continuing growth of the business over the next five years, based on strong forward bookings and plans to increase the size of some of the QEIICC’s largest conference areas.
 
During the year, the venue has also been reaccredited with the Investors in People Standard.