23 March 2012 – acquisition/trading update

The educational programmes and examinations provider has said that pre-tax profits for the year to 31 December 2011 will be ahead of market expectations whilst net cash at the year end was £3.7m.  The group has also announced that it has entered the public sector by making a small acquisition, Skye Training Limited for an initial cost of £0.1m.  The shares have rallied strongly this morning on the news but we believe that they remain a LONG TERM BUY.