Best Casino Sites Not On GamstopUK Casino Not On GamstopCasinos Not On GamstopNon Gamstop CasinosNon Gamstop CasinosNon Gamstop Casinos

Education Development International

Companies: EDD ��
28/11/2008

Educational qualifications and assessment services group EDI has earned full marks after delivering a strong profit and cash performance for the year to September.

Sales advanced by 34% to �21.5m, including a �2.2m contribution from acquisitions, operating profits powered ahead by 58% to �3.34m and EDI increased net cash from operations by 137% to �4.46m, leaving year-end cash healthy at �3.23m and enabling a 27% rise in the total dividend to 0.42p.

Nigel Snook, chief executive, flagged up good levels of organic growth throughout the business, the successful integration of acquisitions and a sterling performance from the core UK vocational qualifications business.

Sales grew by 53% to �11.9m within the UK qualifications and assessment services arm, with November 2007 acquisition ASET, a vocational awarding body, broadening the customer base and service range and helping EDI target further education colleges.

In key international markets – South-East Asia and Germany – EDI performed well, while growth in its support and internet services operations was robust, with sales jumping by 30% to �3.7m.

EDI is now focusing on cross-selling extra services into existing clients and winning new business with training companies, further education colleges and employers, with its eye on select acquisitions should they come up. Striking just the right balance between confidence and caution, Snook also sees resilience in the education market, underpinned by ongoing investment in skills development by governments, employers and individuals alike.

Recommended by Growth Company Investor at 42.25p earlier this year, it is worth topping up holdings in EDI, trading on a miserly forecast price-to-earnings of 5.5, based on a forecast rise in PBT from �3.3m to �3.7m and earnings from 5.9p to 6.6p for this year.

Save 50% off your first year’s subscription to Growth Company Investor magazine, and gain immediate access to all the recommendations online. Click here.

James Crux

Related Articles:
05/01/2009
05/01/2009
19/12/2008
12/12/2008
09/12/2008

AIM�21.97m 37.50p 0.25p
Other company articles:
28/11/2008
31/03/2008
07/03/2008
03/03/2008
07/02/2008

Sponsored Listings

Shares Looking for Shares? Review our comprehensive listings.

Recommendations

Summit Corporation

SPECULATIVE BUY

London Capital Group

BUY

Sinclair (William) Holdings

BUY

Clean Air Power

SPECULATIVE BUY

EBTM

SELL

Orpak Systems

HOLD

BlueStar SecuTech

BUY

Litcomp

SPECULATIVE BUY

Theo Fennell

AVOID

Redstone

AVOID
AIM