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Profits up 47% at VT Education and Skills

publication date: Jun 1, 2008
author/source: Ed Tranham

VT Education and Skills (VTES) saw profits increase 47% to £5.6m for the year ending 31 March 2008. Revenues were up 11% to £124.9m. Education now accounts for 5.6% of VT Group’s profits and 10.4% of revenues.

The operating profit of VTES was a meagre £5.6m (6%) in the same period. At the end of March 2008 VTES’s order book stood at £210m including the recently awarded four-year £32m Waltham Forest School Improvement contract via its FourS division and £6m pa training contract wins in the automotive industry.

Although there are some synergies across the VT Group from having an education business it is difficult to conclude that education is a long-term play for an engineering-based support service business company with defence at its core.

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