The operator of The NEC, LG Arena, The ICC, The Convention Centre Dublin, catering business Amadeus and national ticketing agency The Ticket Factory said the 22% increase demonstrated a "slow but sure recovery" for the events market.
Taking into consideration upgrade costs and loan repayments, there was still a deficit of £7.7m, down from £12.3m in the previous financial year.
The NEC itself individually delivered a profit of £37.6m, up £8m on the previous year – reflecting an "up" year in the normal four yearly exhibition cycle.
Meanwhile the Arenas and Ticket Factory business delivered a record profit of £5.2m, up £1.4m.
Group Convention Centres, incorporating The ICC and The Convention Centre Dublin, had the smallest increase at £0.9m to £4.5m.
The NEC Group’s chief operating officer John Hornby said: "The exhibitions and conferencing businesses have performed well, delivering slow but sure recovery from their results in 2009/10, and we are delighted with the growth levels reported in our arenas and ticketing business.
"Record level of profitability there underline the benefit of the investment in the LG Arena and also the significant potential we have to grow The Ticket Factory, which is now firmly established as a major ticketing force in the UK."
He added that 2011/12 will be a "less profitable" year for the exhibition business due to the normal exhibition cycle and difficult markets but "robust strategies" have been put in place.
The NEC Group welcomed almost four million visitors to its venues during the 2010/2011 financial year.
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