Salford training provider reports overseas growth as profits leap 44%
Conference and training provider Salford Professional Development (SPD) saw profits surge 44% in its latest financial year.
The company’s pre-tax profit hit £978k over the 12 months to July 31, a year-on-year increase of around £300k.
Turnover, meanwhile, rose 31% during the period to £4.87m. Staff numbers grew from 49 to 58.
Overseas income increased 39%, with training services delivered to delegates from countries such as Spain, Saudi Arabia, India, China, Nigeria, Kenya and Australia, on topics including cyber security, digital technology, leadership and management.
The record results put SPD on track to achieve a £12.4m revenue and £3m profit by 2021, according to chief exec Marc Davis.
A subsidiary of the University of Salford, the company offers training courses, conferences and briefings for individuals, organisations, public sector bodies and business in the UK and overseas.
Training is provided by academics and professionals from the Institute of Directors and other organisations. Profits generated are invested back into the university.
Marc Davis said: “We are delighted to report further strong growth for SPD in our fifth year in trading, which represented the first phase of our five-year strategic plan.
“The new financial year has begun well and we are planning to develop the business further during the coming months.”