Revenues at the National Convention Centre are up almost 30 per cent this year, according to its chief executive, Nick Waight.

Accounts just released for the companies behind the centre on Dublin’s Spencer Dock show that its net debt fell almost €20 million to €149.4 million on December 31st, 2014, from €169.1 million 12 months earlier.

Revenues for all of 2014 were €19.26 million, below the €19.6 million that the business generated over 10 months in 2013.

Mr Waight on Friday described 2014 as challenging. “However, there has been a strong recovery in 2015 with revenues trading almost 28 per cent higher than the prior year,” he said.

The chief executive added that the pipeline for future business looked strong for 2016 and beyond.

Figures released showed that its operations generated a profit of €2.46 million last year.

However, a fall in the value of interest-rate swaps held by the company left it with a loss of almost €6 million for the year.

The liquidator of its original parent, Spencer Dock Development Company, sold the business to the Irish Infrastructure Fund last July.