The company behind the Great North Run has said its events continue to see challenges posed by the pandemic.
Fewer people than expected joined Nova Marketing’s events last year, new accounts filed at Companies House show. However, the Gateshead-based operator, which leads the Great Run Series and runs a media production company, said it outperformed the market.
Documents for the firm show turnover increased from £13.7m to £17.2m, as operating profit dropped from £2.8m to £1.9m and Ebitda fell from £2.8m to £2.07m. Directors said they were confident of a strong performance this year – with figures set to include September’s flagship half marathon event that hosted 60,000 runners.
Read more: Trading toughens for ScS as sofa retailer reports drop in profits Read more: Tech sector support bodies join forces to deliver new programme for start-ups Nova’s film and TV production arm, FilmNova, was said to have had a successful year with a number of commissions including official World Cup film for the 2022 FIFA Football World Cup in Qatar. The division, which saw investment in staffing earlier this year, also continued to deliver a growing portfolio of triathlon events, on behalf of both the World Triathlon Association and the Professional Triathlon Organisation, as well as providing broadcast services for the Cambridge and Oxford University Boat Race.
In a review written to accompany the accounts, director Eric Wilkins said: “Following the upheaval of 2020 and 2021 the Group delivered its full programme of events with the Great North Run returning to its traditional route starting in Newcastle and finishing in South Shields
“In 2022, the mass participation market continued to see challenges in demand with a slower than anticipated return to activity for participants, following the pandemic. Pressures on demand were exacerbated by rising costs of living and inflationary pressures on the supply chain.
“That said, the directors are pleased with the performance of the group in 2022, with costs being effectively managed and with the group outperforming general market demand. FilmNova retains a strong pipeline of work in 2023 and beyond and this is being supported by a significant post year end investment in staffing. The directors remain confident of a strong performance in 2023 and into 2024.”
Earlier this year, Nova secured a five year sponsorship deal with Manchester-based AJ Bell which will see the investment platform’s name attached to the Great Run Series for five years, across its events in Glasgow, Manchester, Birmingham, Bristol, Portsmouth and on Tyneside. And last month the firm staged the inaugural 13 Valleys Ultra in the Lake District National Park – an ultra marathon event featuring three ultra distances of 55km, 110km, and 180km – and a 20km trail distance.
A spokesperson for The Great Run Company said, “The operating performance in 2022 was more closely aligned with the group performance pre-pandemic, whereas neither 2021 or 2020 saw the same level of activity for the group, resulting in a different profile of profitability”
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