The private education group Nord Anglia has reported profits of 4.6m before tax and exceptional items over the year ending 31 August 2002 - a 14 per cent increase on the previous year. Turnover also grew substantially, increasing by 28 per cent from 57.9m to 74.1m. Chairman Kevin McNeany said that the acquisition of the Bright Horizons nursery group, now operating under the Princess Christian brand, had contributed significantly to the company's growth and added that the nursery division was developing well. Its turnover rose from 2.6m to 7.5m, and operating profits increased from 90,000 to 480,000 after absorbing integration costs of 140,000. Nord Anglia's annual report and accounts said, 'Princess Christian Nurseries is now established as one of the top ten nursery chains in the UK. In January 2002 the integration and re-branding of the acquired Bright Horizons nurseries was successfully completed to plan and on time. All units operate as Princess Christian Nurseries and are managed from the central headquarters in Cheadle.' The report went on to say that occupancy of the new unit, which opened in Weston-super-Mare last May, has been ahead of expectations, reaching 50 per cent within the first six months. At least three more units will open in 2003 in 'carefully researched and selected locations'.
The private education group Nord Anglia has reported profits of 4.6m before tax and exceptional items over the year ending 31 August 2002 - a 14 per cent increase on the previous year. Turnover also grew substantially, increasing by 28 per cent from 57.9m to 74.1m. Chairman Kevin McNeany said that the acquisition of the Bright Horizons nursery group, now operating under the Princess Christian brand, had contributed significantly to the company's growth and added that the nursery division was developing well. Its turnover rose from 2.6m to 7.5m, and operating profits increased from 90,000 to 480,000 after absorbing integration costs of 140,000. Nord Anglia's annual report and accounts said, 'Princess Christian Nurseries is now established as one of the top ten nursery chains in the UK. In January 2002 the integration and re-branding of the acquired Bright Horizons nurseries was successfully completed to plan and on time. All units operate as Princess Christian Nurseries and are managed from the central headquarters in Cheadle.' The report went on to say that occupancy of the new unit, which opened in Weston-super-Mare last May, has been ahead of expectations, reaching 50 per cent within the first six months. At least three more units will open in 2003 in 'carefully researched and selected locations'.
