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Revenues up to £150m at BPP Holdings

publication date: Mar 31, 2008
author/source: Ed Tranham

BPP has reported a 16% increase in revenues to £150m for 2007 and a rise in pre-tax profits from £18m to £18.5m. All three operating divisions saw top line growth.

Professional education continues to be BPP’s largest division with revenues of £103.4m and an operating profit of £15.3m.The constituents of this division are accountancy and tax (£70.6m) – professional qualifications with growth overseas and in the UK with AAT; professional development (£24.9m) and financial services (£7.9m) which saw the biggest growth of 26%.

The company’s degree-awarding BPP College of Professional Studies, which includes four law schools delivering postgraduate professional training and a business school, saw revenues increase 12% to £36.7m with an operating profit of £3.2m. The BPP College is the first private sector college to be granted degree awarding powers and the first degree courses will be launched in September 2008.

BPP’s smallest division MPW, which operates three independent sixth form colleges in London, Birmingham and Cambridge, recorded revenues up 17% to £9.8m with an operating profit of £1.7m. Given developments elsewhere within the business, we assume BPP’s directors must be giving some thought to the future of MPW within the group – grow or sell?

Shares closed on 31 March at 530p, well below Carter and Carter’s offer of 725p per share a year ago.

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