22 October 2010 – trading update
The effects of cuts in government spending announced in the Comprehensive Spending Review have been deeper than expected at the group’s Civil Service training business, meaning that full year results will be lower than expectations. Although most of the Political business continues to perform well and there may be significant opportunities going forward as a result of plans to outsource Civil Service training and development, in the short term the shares seem likely to remain under pressure. They are no more than a HOLD.