Transformed education and training outfit ILX returned to profits on a doubled turnover last year and is taking a larger slice of the growing project- and service-management markets. Those annual figures to March revealed pre-tax profits of £374,000, versus losses of £257,000 for 2004, on an improved turnover of £3.9m (£1.6m), with recent acquisitions Computa-Friendly and Mindscope contributing almost £1m to the top line. Chief executive Ken Scott says ILX – which has a somewhat chequered history – has been turned around, is generating cash and is proving its ability to make and integrate well-judged acquisitions. Computa-Friendly, bought for 2.8 times profits in October, provides IT classroom training and a suite of e-learning tutorials, while December acquisition Mindscope boosted the group’s presence in instructor-led project management training. Looking ahead, Scott says the ‘centre of gravity’ for ILX are the burgeoning markets for project and service management, serviced through its Key Skills and Mindscope brands. The remainder of the business is focused on training in business finance, IT and data governance under the Intellexis and Computa-Friendly brands. Indeed, Mindscope recently won its largest deal to date, a £250,000 contract with a major telecommunications play. ILX’s current share price fails to reflect progress made and growth prospects. Investors can expect forecasts from newly appointed house broker Charles Stanley later this week. Intriguing stuff.

ILX Group	AIM	£4.46m	23.00p	0.00p
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