Steady growth from event security company, amid fears deregulation could reduce standards
Latest company accounts from Showsec reveal consistently strong growth in turnover and pre-tax profit. The crowd management and event security company based just off New Walk is a serious player nationally. It managed, for instance, more than 350,000 people through the gates over the four days of the Formula 1 British Grand Prix at Silverstone this month. It also provided security for last year’s Tour de France.
Showsec had an exceptional year in 2012, with an increase in turnover of 47% thanks to major one-off summer events. Around that, profits have continued a steady rise, up 50% since 2010.
The company values training, and has developed a system of online training modules as an efficient way of skilling staff and casuals. It also prefers to hire staff directly, and minimise the use of subcontract labour. So while administration staff, including directors, number 135, it employed a monthly average of 2,442 casual staff during the year, 200 more than 2013.
Showsec’s principal risk for the future is any move towards deregulation, say the directors. Removing bureaucratic red tape and health and safety rules, so often cited as a curb on business, would not, they feel, benefit the industry. The company fears deregulation would reduce standards and increase criminal operations and low-quality activity in the market place.