Art Basel Reports Profit Increase
Published March 19th, 2008
MCH Messe Schweiz Holding AG, announced that last year’s profit rose to more than three times that of the previous year, increasing to 45.7 million Swiss francs ($47 million) from 13.8 million, Bloomberg reports. The company attributed the jump to a convergence of its most profitable luxury watch, jewelry, and modern art fairs, as well as conferences like Swissbau, a biannual construction industry event, in one 12-month period. Revenue and profit are expected to fall this year because scheduling cycles will lead to fewer events.
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