The outstanding 50% shareholding in the joint
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the Group accounts for the first time.
Operating costs reflect the consolidation of QD Events
Ltd, hence the reason for the increase when compared
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on the venue operational cost efficiencies have had
some impact on the ability to manage operating costs.
Like for like spend on QD2 revenue expenditure was
largely unchanged on the previous year as the project
moved through its planning phase.
Interest and investment income generation helped
underpin the strong trading performance with rises
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value of investments fell by 12% to £5.1 million.
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Together with market value losses on investments
during the year of £0.5 million, there is a net transfer
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During the year the Group continued to generate
strong trading cash flows, up over 12% to £2.1 million
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£16.5m, however the Arena project over the next few
years will see significant calls on that cash. The Group
also continued to make further investments, £2.1
million in the venue and £0.4 million for the acquisition
of the remaining holding in QD Events Ltd.
secc.co.uk
2007/2008 Corporate Review 15
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