Edvantage group announced that its full-year results for 2007 were £7.89 million and operating margin of 6.7 percent. Year-on-year, the company experienced 48 percent increase in revenues, making it the 9th year in a row that the company has achieved double-digit revenue growth.
The operating profit was £0.54 million, an increase of 225 percent from 2006. “Edvantage group had a particularly good year with record revenue and profit. The results were driven by the strong market appeal of our end-to-end approach
– which combines technology, services and content – and our flexibility in customising a learning solution to address business needs,” says Thomas Berglund, CEO, Edvantage group.
“Our growth in our regions of operation – Norway, Sweden, Denmark, UK and Benelux - reflects the strength of our business model, and differentiates us
from other vendors. We hope that with these results we will continue to be
recognised amongst the winners of the Deloitte Technology Fast 500.”
Several organisations selected Edvantage group in 2007 including, Danish Defence, Ericsson, The International Institute for Communication and Development (IICD), The UK Insolvency Service, Jotun, The Norwegian Labour and Welfare Administration, Norway Post, and Lego. Altogether, Edvantage group now has more than 500 customers in a wide range of industries.”
We are on track to achieve our goal of being the leading provider of e-learning solutions in Europe,” says Berglund. “We will continue to develop our breadth and depth of offerings, build strategic partnerships, and help customers to manage their learning initiatives. We expect to grow in 2008, both organically and through acquisitions, particularly in the UK where there is a highly fragmented, yet growing market.”
|