Tribeca turns knowledge into cents
Tribeca Learning’s education mandates with the Financial Planning Association (FPA) and the Australian Stock Exchange (ASX) have contributed to an improvement in revenue of more than 20 per cent to the end of June 30, 2004, with the group eyeing further acquisitions in Australia and abroad.
The results fall short of the group’s strong half yearly results to December 31, 2003, which saw revenue up by 27 per cent, but Tribeca says 2004 was a year of investment, relocation and acquisition that now places the group in a position to further infiltrate the sector of financial services education.
Tribeca says that although approximately 90 per cent of the company’s revenue is derived from financial planning education, it will focus in 2005 on exploring acquisition opportunities in other advisory segments including accounting, stock broking and mortgage lending.
Across the group’s three operating divisions — education courses, continuing education and compliance services — the group reaped a 21.2 per cent increase in revenue to $17.76million and a net profit after tax of 14.8 per cent to $1.4 million.
Total course enrolments for the year was 13,082 — a 10.2 per cent increase on student numbers from the 2002-03 financial year.
Operating revenue from education courses brought in $8.75million and continuing education programs $7.09million.
Compliance services earned the group $1.75million, with the group conducting approximately 1,500 audits of financial planners to June 30, 2004.
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