By: Sphelele Ngubane
The Durban International Convention Centre, which generated a net profit of R32-million last year, has reaffirmed its status as the leading meetings and conference centre in Africa.
According to the centre’s annual report released on Wednesday, the ICC’s gross revenue figure was R157-million.
ICC chief executive Lindiwe Rakharebe said year-on-year growth was R5.3-million and there was a 20 percent increase in the number of events hosted in the centre last year.
“In spite of the challenging economic climate, the Durban ICC has managed to post profitable financial results for the fifth consecutive year,” said Rakharebe.
As it has done for the past 14 years, the conference centre took the title of “Africa’s leading Meetings and Conference Centre” at the World Travel Awards last year.
Durban was named the leading Meetings and Conference destination.
The centre’s financial director, Melanie Rambally, said the ICC maintained “an impressive” gross profit of 78 percent by cutting its costs of sales figure by six percent this year.
“In addition, the company also showed significant year-on-year growth (34 percent) in its pre-tax profits moving from R29-million in 2014 to R39-million this year,” said Rambally.
The ICC is one of the major venues being punted by the Durban KwaZulu-Natal Convention Bureau.
At the Meetings Africa conference in Sandton two weeks ago, chief convention bureau officer James Seymour said as thousands of delegates flocked into the ICC for meetings and conferences each year, the unit wanted to use that to the advantage of the province by hosting pre- and post-tours that would market KZN as a tourist destination.
The ICC is expected to host the 21st International Aids Conference from July 18 to 22 this year. Seymour said this would be yet another opportunity to market the province to the delegates.
The ICC has also received an unqualified audit for the second consecutive year.
“This audit opinion confirms that the strong internal controls and sound financial systems which have been implemented are in line with all applicable legislation and continue to bolster public confidence in the management of this entity,” said Rakharebe.
“The company contributed R4.6-billion to the national gross domestic product, showing a 47 percent growth in this figure from the previous fiscal year.
“The vast majority of this contribution benefited the KwaZulu-Natal economy directly, by adding R4.5-billion to the province’s gross geographic product whilst creating and sustaining 10 874 direct and indirect jobs for the country,” she said.
City manager Sibusiso Sithole said eThekwini was pleased that the convention centre had delivered on its mandate to generate income for the city.
