Events venue Gorton Monastery makes first profit
EVENTS venue Gorton Monastery is celebrating its strongest ever year, as sales increased 65% and it made a profit for the first time.
Despite increased competition from new event spaces, sales increased 65% to £1.4m for the year to January 3, 2011, (2010: £847,000). It also made a small profit.
The financial results for the monastery’s trading subsidiary, The Monastery Manchester, represent the most important commercial element of the group’s activities.
This is the first year that the monastery’s charitable arm, The Monastery of St. Francis & Gorton Trust, has not been required to provide any additional financial support to the trading company and accounts show that the charity’s total exposure by way of advances made to the subsidiary remains unchanged year on year at around £390,000.
The company also said that it continued to improve its performance throughout 2011. The Monastery has seen a significant rise in the number of weddings booked with 47 expected for 2011, up from 33 in 2010 and nine in 2009.
Elaine Griffiths, chief executive, said: “The Monastery’s reputation as a unique venue is growing and it is reassuring to know that so many people support our vision. It has taken the Trust 15 years to ensure that these historic buildings were saved, lovingly restored and well used. All this is for the benefit of future generations.”
Griffiths added: “Commercial success is important to the project’s long term sustainability. It is rewarding to know that all of our customers use The Monastery because they share our vision and understand that all proceeds support the maintenance of these magnificent buildings, the ongoing restoration of the site, and go into our community and charitable work locally.”
