Preliminary Results for the year ended 31 August 2005
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21 NOVEMBER 2005
NORD ANGLIA EDUCATION PLC
PRELIMINARY RESULTS ANNOUNCEMENT
for the year ended 31 August 2005
Nord Anglia Education is a leading provider of education, training and childcare with three distinct operating divisions - Nurseries, International Schools and Outsourcing
HIGHLIGHTS
- Group turnover increased by 22% to £115.3m (2004: £94.4m)
- Operating profit before exceptional costs and goodwill amortisation up by 41% to £7.9m (2004: £5.6m)
- Excellent progress in International Schools and Outsourcing Divisions
- Nursery Division affected by market conditions and integration difficulties
- Arrival of new Finance Director and Nurseries management team
Alan Kelsey, Chairman of Nord Anglia, comments:
""We have done much work in the Nursery Division to improve performance but more is needed; in particular, we need to improve occupancy, given the operational gearing of the business, and we believe the strengthened management team is well positioned to do this although the market background shows little sign of improvement in the short term.
""Our Outsourcing Division has developed some exceptional products and services and the opportunity exists to increase the revenue generated from our existing contracts.
""In our International Schools Division, the improvement in facilities and expansion of capacity in our current schools will continue as we start work on a new Prague campus. We also continue to seek to grow this business within existing markets and are actively reviewing exciting new market opportunities that offer substantial scale and returns.
""We expect to report substantial progress in the current year.""
ENQUIRIES:
Nord Anglia Education plc 0161 491 4191
Andrew Fitzmaurice, Chief Executive
Stephen Hyde, Finance Director
College Hill 020 7457 2020
Gareth David
Anthony Parker
NOTES TO EDITORS
Nord Anglia is the only fully listed company on the London Stock Exchange that is exclusively focused on education and training. We employ over 4000 people to deliver a wide range of educational services across all age groups, and every year help with the education and training of over 100,000 customers.
Our Nursery Division is the market-leading provider of day care and early years education in the UK. We operate from 101 nurseries and care for more than 12,000 children between the ages of three months and five years old every week. We believe in delivering high-quality nursery education and care from first class facilities and 75% of our buildings are purpose built.
Our International Schools Division delivers high quality British-style education to children and young people between the ages of two and 18 worldwide. Over the past three years we have sought to dramatically improve the standard of our facilities and now operate from modern purpose built premises with the exception of our Moscow schools and in Prague. All Nord Anglia's schools provide a stimulating, challenging and exciting environment for our students to develop their skills, abilities and talents - both academically and as individuals" |
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