Accountancy training holds up despite economic turmoil

Accountancy training agency BPP Holdings reported a 10% pre-tax profit
increase for the first half of 2008 revealing a strong appetite for professional
qualifications despite the current downturn.

The company recorded profits of £9.7m compared with £8.8m for the same period
last year with professional education revenues up by 14%.

‘I think it comes down to the underlying need for people to increase their
level of business skills. It’s a combination of employers encouraging their
employees to take further level qualifications and individuals themselves
looking to advance their careers,’ said chief executive, Roger Siddle.

He said the company had seen a ‘strong growth’ in demand for taking the ACCA
qualification despite the syllabus changing recently.

BPP’s recent review of its business identified a need to develop its
accountancy training. In particular the agency is looking at developing its
revision and question day courses geared at upping students pass rates for
accountancy qualifications.

The training agency is also launching a masters in accountancy in a bid to
get a slice of the action for the lucrative £1.2bn postgraduate market.

The company’s earnings per share increased by 15% from 12p to 13.8p with its
dividend per share rising by 10% from 6.10p to 6.70p.

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