Study Group, the global pathways and language provider, saw profits fall again this year due to poor performance in the US and Australia, although the firm’s UK operations grew. The Australia-based firm reported a 3.7% fall in revenue for the year ending December 31 2012 along with a pre-tax loss of £33.6m. Study Group, the global pathways and language provider, saw profits fall again this year due to poor performance in the US and Australia, although the firm’s UK operations grew.
The
Australia-based firm reported that overall revenue for the year ending December 31 2012 fell 3.7% to £241.2 million. Earnings before interest and taxes totalled £7.1m, however after net finance costs the company sustained a pre-tax loss of £33.6m. It follows a fall of £27.1m in 2011.
The company sustained a pre-tax loss of £33.6m, following a fall of £27.1m in 2011
Set up in 1994, Study Group's International Study Centre pathway programmes and Embassy language schools now span Europe, Australasia and North America. It also offers sixth form education through Bellerbys colleges in the UK and career education at three Australian colleges.
The firm blamed its poor 2012 performance on a number of factors. In Australasia, primarily Australia, revenue fell by 10.1% to £87.4m with higher education pathways continuing to struggle against a high dollar. However, reforms in 2013 such as extended post-study work rights and a recent fall in the dollar should be felt in FY2013.
Revenue in the USA and Canada, Study Group’s smallest geographical market, also fell – down 17.5% from £34.4m in 2011 to £28.3m.
But in Europe, principally the UK, revenue increased by 5.6% to £125.5 million, up from £118.8m in 2011. Drivers included a competitive pound and expansion of the company’s 16 on-campus pathway programmes. Growth was tempered by a dip in language business, however, driven by uncertainty in the eurozone and the “
Olympics effect” on the UK last summer (when typical study travel business was displaced).
Partnering with 100 higher education institutions worldwide, Study Group is a leader in the pathways sector, competing with the likes of INTO University Partnerships, Cambridge Education Group, Kaplan and Navitas. It was acquired by Providence Equity Partners in 2010 for £388.3m.
Study Group, the global pathways and language provider, saw profits fall again this year due to poor performance in the US and Australia, although the firm’s UK operations grew.
The Australia-based firm reported that overall revenue for the year ending December 31 2012 fell 3.7% to £241.2 million. Earnings before interest and taxes totalled £7.1m, however after net finance costs the company sustained a pre-tax loss of £33.6m. It follows a fall of £27.1m in 2011.
The company sustained a pre-tax loss of £33.6m, following a fall of £27.1m in 2011
Set up in 1994, Study Group’s International Study Centre pathway programmes and Embassy language schools now span Europe, Australasia and North America. It also offers sixth form education through Bellerbys colleges in the UK and career education at three Australian colleges.
The firm blamed its poor 2012 performance on a number of factors. In Australasia, primarily Australia, revenue fell by 10.1% to £87.4m with higher education pathways continuing to struggle against a high dollar. However, reforms in 2013 such as extended post-study work rights and a recent fall in the dollar should be felt in FY2013.
Revenue in the USA and Canada, Study Group’s smallest geographical market, also fell – down 17.5% from £34.4m in 2011 to £28.3m.
But in Europe, principally the UK, revenue increased by 5.6% to £125.5 million, up from £118.8m in 2011. Drivers included a competitive pound and expansion of the company’s 16 on-campus pathway programmes. Growth was tempered by a dip in language business, however, driven by uncertainty in the eurozone and the “Olympics effect” on the UK last summer (when typical study travel business was displaced).
Partnering with 100 higher education institutions worldwide, Study Group is a leader in the pathways sector, competing with the likes of INTO University Partnerships, Cambridge Education Group, Kaplan and Navitas. It was acquired by Providence Equity Partners in 2010 for £388.3m.
