Interim Management StatementNordAnglia Education PLC18 January 2008 Nord Anglia Education plc Nord Anglia operates International Schools worldwide, focusing on the delivery of high quality British style education to children and young people between the ages of two and eighteen. The Group also works in partnership with government departments, local education authorities, schools and other public sector organizations to deliver a wide range of education and training contracts both in the UK and overseas. Schools Pupil numbers across each of our schools have seen continued growth since the start of the school year in September 2007. At the start of January a new secondary campus was opened on schedule at Puxi in Shanghai. This provides an additional 500 places at the school to accommodate strong demand in the city and takes total capacity for our three international schools in Shanghai to 4,200 places. The construction of a new school campus in Beijing is now in progress and the process of application for an educational licence from the Ministry of Education in Beijing is underway. The scheduled pre-marketing activities for the school are able to commence on award of this licence. Having identified a site for a proposed new school in Singapore negotiations are ongoing with the authorities to secure the appropriate commercial terms for a 1500-2000 pupil campus for 3-18 year olds. At the pre-school for local children opened in Seoul, South Korea in March 2007 pupil numbers have shown encouraging recent progress towards breakeven with full time equivalent pupil numbers now reaching 67 with the school on course to reach the target of 100 pupils by March 2008. Learning Services The Learning Services Division has successfully renewed the Army Foundation College contract for a 4 year period from March 2008, which secures an important income stream for the business. In addition this renewal underscores the business' credentials as a partner in the Metrix consortium who are preferred bidders for the combined services Defence Training Review. The EduAction contract in Waltham Forest will end in March 2008 with the majority of the contract previously outsourced returning to the Local Authority. Nord Anglia has tangibly enhanced education outcomes for young people within the Borough of Waltham Forest. The inspection contract with OFSTED continues to perform well with the recent relationship incorporating a number of pilot projects around OFSTED's future outsourcing strategy. The Division is currently involved in three significant bids: QIA Diplomas 2, National College of School Leadership Fast Track Teaching programme and Abu Dhabi Public Private Partnership 3. Current trading and prospects Pupil registrations in International Schools have increased from the start of the 2007/08 financial year from 3,719 to 3,946 at 11 January 2008, an increase of 227 pupils. Growth has been achieved in each school particularly with the established Shanghai schools where further registrations are anticipated during the latter part of January. Learning Services are progressing a number of new contract tender opportunities both in the UK and Middle East. The Board anticipates the outcome for current year's trading to be in line with expectations. Through the progressive development of existing schools, selective investment and development in new schools and penetration of new Learning Services business streams the Group's prospects for achievement of both business performance and brand reputational goals remains good. 18 January 2008 Enquiries: Nord Anglia Education plc 01283 496583 Andrew Fitzmaurice, Chief Executive David Smith, Finance Director College Hill 020 7457 2020 Anthony Parker Gareth David |
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