Site Search
December 2018 edition


Not a subscriber?
To request a Two-Issue Free Trial email your details to: subs@theassignmentreport.com
The Assignment Report Events

Making a difference - Maximising learning outcomes and improving workflow in schools

14 February 2019, 13.45 to 17.45, Ironmonger's Hall, London

Confirmed panellists include: Steve Burnett, Managing Director, RM Education; Andrea Carr, Founder of Rising Stars; Paul Charman, Managing Director, FFT Education; Richard Marett, CEO, Whizz Education; Amanda Peck, Executive Director Marketing, Professional Group, McGraw-Hill Education; Josh Perry, Director, Assembly; Ian Rowe, Business Development Director, GCSEPod; and, Dan Sandhu, CEO, Sparx.

Paul Howells (CEO, Eteach Group), Julian Drinkall (CEO, AET) and Rupert Barclay (Managing Partner, Cairneagle)


Additional funding for Ramesys from Lloyds

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

As we suspected, the BSF programme had a negative impact on cash flow at Ramesys. In accounts finally filed last month for the year ending 31 December 2006, the directors’ report confirms that additional financial support was made available in February 2008 from the company’s key investors, Lloyds TSB and Lloyds Development Capital. The additional funding total is undisclosed.

In 2006 Ramesys was successful in achieving preferred BSF bidder status in Manchester (value £19.6m) and Waltham Forest (£8m) and lost only one bid. But the costs associated with the BSF tendering period in 2006 amounted to £1.059m. The company had to recruit experienced staff into senior positions to handle the additional work and at the end of 2007 was one of the last two bidders for £130m of contracts. Given that these revenue streams are in the future, it is hardly surprising that additional financial support has been required from Lloyds.

A similar picture has emerged at RM. In RM’s latest pre-close statement, the company confirms that BSF is skewing revenues and estimates that BSF bid costs for the year ending 30 September will be £4.5m. Its contract hit rate since October 2007 is three out of six.

www.ramesys.com
www.rm.com


Copyright Meissa Limited 2005-2018