In the UK, New Covent Garden Market has reported on a strong 2008/09 in its 48th annual report and accounts summary, with turnover and profit increasing during the year.
According to the results, released by the Covent Garden Market Authority (CGMA), turnover during the 12-month period grew 11 per cent to hit £606m (€702m), with trading profit before taxation and feasibility study costs jumped to £2.2m (€2.6m), up 8 per cent on the previous year.
In its occupancy report, CGMA said that trading space in the market fell to 94 per cent compared with 95 per cent last year, while office space dropped from 60 per cent to 52 per cent, reflecting both the economic downturn and the fact that market leases have a limited time to run before renewal in April 2010.
Overall satisfaction of tenants, which consists of those judging CGMA to be good or excellent, increased from 75 per cent to 90 per cent this year.
The percentage of waste recycled from the market increased to 37 per cent from 33.8 per cent in 2007/08, according to CGMA.
In March of this year, CGMA revealed the launch of'The Garden at New Covent Garden Market' as a new identity for theMarket, with the rebranding set to be introduced whenplanned redevelopment work is completed.
