Member Article

‘Beginning of a new dawn’ as SPD reports 29% surge in pretax profits

Conference and training provider Salford Professional Development has reported a strong set of financials for the year (to July 31).

The Manchester-based firm saw revenues rise 34% from £2.76m to £3.7m, reportedly surpassing expectations by £100k.

Moreover, pre-tax profits jumped from £584k to £752k, an increase of 29%. The firm has now set a target to grow revenues to £12.4m and profits to £3m by 2020/21.

Chief executive Marc Davis hailed the success of SPD’s entry into the London market along with the launch of its executive education division.

He said conference income from delegates and sponsors had more than doubled to £2m as SPD expanded its portfolio of events, including staging 26 in the capital.

Mr Davis said: “We have surpassed our promises and I am incredibly proud of what we have achieved.”

SPD, which is a subsidiary of the University of Salford, has increased staff numbers from 35 to 49 in the past year, and plans further recruitment over the coming months in its sales, marketing and operations teams.

The firm delivers events and training for individuals and companies across the UK and internationally, with a focus on sectors including health and social care, media, business and law, the built environment, education and public services.

Academics at the university provide the training, and profits generated by SPD are ploughed back into the institution.

Mr Davis continued: “The business has grown year-on-year since it was founded in 2012, and the future is looking very bright as we continue to expand our product portfolio and increase the size of our team.

“We continue to make waves in London and to roll out more courses through our executive education division.

“In addition, our executive learning portal launched this month is already proving popular among professionals who are unable to attend face-to-face courses or wish to learn at their own pace.”

He added: “The last financial year represented the beginning of a new dawn for SPD as I set about writing our five-year strategic plan with support from deputy chief executive Paul Bolton and chief operating officer Dave Hall.

“Our vision is clear, in that we will be delivering growth in partnership with the university.

“We represent a vehicle through which it can commercialise its expertise and offer an expansive engagement opportunity to delegates and industry partners, many of whom are first-time visitors to the university.”