Strong year-end figures show QA bucking industry trends during turbulent times
The year-end results for QA, the UK's leading training company, show an increase in profit and net cash as the company continues its outstanding performance, despite difficult trading conditions.
QA's financial figures for year ended 31 May 2010 show the company in rude health, despite the continuation of the economic downturn.
With revenues of £80.1 million, QA remains by far the UK's leading independent training company - which has also been recently confirmed in research by Pardo Fox and identified by the Sunday Times as a 'growth leader' - one of the UK's UK's top 100 private-equity owned performing companies.
Despite tough trading conditions, QA has been able to increase its operating profits by 14% to £5 million - and substantially grow its net cash by 62% to £6.1 million.
The company has also maintained its margins - and made 17% savings due to cost-efficiency savings.
William Macpherson, QA's CEO, says that the results are evidence of a highly successful year for the company. "I believe QA has the best team in the industry. Their hard work and commitment to continually deliver excellent training has not only kept QA at the top of its game, but also at the top of the industry."
Macpherson goes on to say that this year has been successful for QA in many ways. "We've won a significant number of major training contracts, which provide us with ongoing, assured revenues. We've extended our reach in core training markets - such as Microsoft, where more than two out of every three people trained in the UK are trained by QA. We also continue our push into new markets - for example, we're building up an impressive portfolio of eLearning and virtual learning clients."
Naturally, Macpherson is pleased with QA's performance. "It can be an unnerving time for training buyers, particularly as they see some training providers unable to continue trading," he concludes. "But our outstanding performance and financial position gives buyers the confidence of working with a truly stable training provider and demonstrates that success in this market is still achievable for those who deliver quality and run their business well."