Trading UpdateNordAnglia Education PLC18 September 2006 Nord Anglia Education plc ('Nord Anglia' or 'the Group') Trading Update Nord Anglia Education is a leading provider of education, training and childcare with three distinct operating divisions - International Schools, Learning Services and Nurseries The Board of Nord Anglia Education plc is pleased to make the following update on trading: The International Schools division finished the 2005/06-year strongly and we are encouraged by the number of September registrations for the new academic year across all of our schools. The Chinese schools performed particularly well during 2005/06 and we will continue to expand in Shanghai whilst identifying other attractive markets in China. The development of our business outside Shanghai will begin with the opening of a 400-place Chinese junior school in Ningbo city in September 2007. We are also progressing opportunities in South Korea, where we plan to open a 300 place junior school in March 2007. We have substantially increased the size and capability of our management team both in the UK and in our overseas markets to ensure we effectively deliver the planned expansion for this business. In Learning Services we continue to build our reputation as a high quality provider of a broad range of education services both in the UK and internationally. The new Abu Dhabi school management contract has started well and, whilst we have a strong pipeline of opportunities in the Middle East and in the UK, we were disappointed not to have won any of the Building Schools for the Future contracts for which we recently tendered. The division continues to perform well and its reliance on Connexions contracts has reduced with the Brent contract having ended on 31 July 2006. The nursery market continues to be difficult, demonstrated by a number of our competitors reporting substantial losses in recent months. Consequently, we do not anticipate any substantial improvement in the year ahead against this exceptionally difficult market. As part of our recent and continuing review of our nursery estate, we have announced the closure of five locations with effect from 30 September. Following the appointment of Ros Marshall as Chief Operating Officer we have promoted Jonathan Garnett to be Managing Director of Learning Services. Simon Cashmore, the Managing Director of the Nurseries division has resigned and is leaving the company this month and will be replaced by Linda Kidd, who was previously the CEO of one of our Connexions businesses. Overall, we anticipate group earnings to be in line with market expectations for 2005/06 and remain confident that the year ahead should see substantial profits and earnings growth. Nord Anglia will announce its Preliminary Results for the year ended 31 August 2006 on 15 November 2006. 18 September 2006 ENQUIRIES: Nord Anglia Education plc Tel: 01283 496583 Andrew Fitzmaurice, Chief Executive Stephen Hyde, Finance Director College Hill Tel: 020 7457 2020 Gareth David Anthony Parker |
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