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December 2018 edition


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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)


Latest filed accounts show big improvement at 7 City Learning

publication date: Oct 2, 2011
Print
Gross margins were unchanged at 41%. EBITA more than doubled to £2.20m (2009: £0.78m) although after amortisation (£2.09m), exceptional costs (£253k) and interest payments (£4.75m) the business reported a pre-tax loss of £4.89m (2009: £6.29m loss). The improvement in performance in 2010 follows a difficult 2009 post the banking crash when the company saw revenue fall 14%.

 

Net cash flows from operating activities increased to £2.56m (2009: £1.59m) in 2010 and the company ended 2010 with net cash of £268k compared with net bank debt of £1.59m in 2009. Total net debt at the Gresham Private Equity backed company was £41.5m (2009: £38.9m) at 31 December 2010 of which £40.2m (2009: £35.9m) relates to shareholders’ loan notes which expire in 2014. The company's £2.5m revolver loan expires in September 2012 and the £1.5m term loan in November 2013.

7City delivers financial training to banks and the financial services industry, providing public and in-house course to prepare students for regulated exams. The company has three core business units: 7 City Business School which offers regulatory and professional skills qualifications; 7 City Professional Skills which provides bespoke classroom based instruction to the banking sector; and 7 City Learning Solutions which provides corporate training academies and digital learning solutions. The company’s Business School unit delivered revenue of £16.3m (2009: £12.2m) in 2010 and the other two divisions delivered combined revenue of £7.8m (2009: £6.3m).

 

In July 2010 the company launched an Investment Banking training service – 7 City Learning IB Limited - that contributed around £1m of revenue to 7 City’s Professional Skills division. 7 City owns 52.5% of the shares of this new business with the balance owned equally by the new company’s tutoring team.

 

7 City Learning has centres in London, New York, Singapore and Dubai and employs around 110 people. The UK remains the company's largest market contributing revenue of £20.7m (2009:£16.0m) which includes revenue from the company’s Middle East business. 7City's US and Singapore businesses grew revenue 80% to £3.40m (2009: £1.89m) in 2010.

7 City Learning reports that the company expects to see continued growth in the business in the current year despite the continuing volatility of market conditions. 7City Learning was bought out by its co-founders Jonathan Shaw, Gil Christie and Paul Shaw in January 2008.


www.7city.com
www.greshampe.com

 


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