Education Company of the Year winners

Press release

The Prospects Group has been named Education Company of the Year 2011 by the prestigious ‘Assignment Report’ which praises Prospects for adapting to the requirements of its clients and for continued growth, in its latest issue.

It states, “Led by Executive Chairman, Ray Auvray, and Managing Director, Vincent McDonnell, Prospects has demonstrated great skill in adjusting its business model to the changing needs of its diverse range of clients while maintaining growth in revenue and profits. In the five years to 31 March 2011, Prospects has seen EBITDA* increase 57% to £4.2m and revenue increase 50% to £76.9m.”

Ray Auvray commented; “I am delighted that Prospects has been named as the Assignment Report’s Education Company of the Year. I am proud of the way Prospects has adapted to the current, highly challenging economic environment while continuing to grow and provide excellent services to our clients and customers.

The dedication and expertise of our staff have been crucial to our success. Our move in September, to become one of the largest wholly employee-owned mutual companies working in the education, employment and training sector, reflects their outstanding contribution.

Prospects is a good example of how a business can be successfully created and spun off from local authorities, bringing together the best aspects of the private and public sectors.  Going forward we aim to use our strong record of innovation and achievement to support local authorities and government departments with their plans to spin off as new mutuals.”

The Assignment Report also highlighted Prospects’ success as prime contractor for the new Work Programme in the South West and as a leading subcontractor in London.

Vincent McDonnell, commented; “To be named as the Assignment Report’s Education Company of the Year is a great honour.  I am very proud of the contribution we make to the education market. We are committed to making a difference to the lives of adults and young people, not only by helping them into sustainable jobs, but through our work as a leading school and Academy improvement partner, a contracted Ofsted inspection company and an Academy sponsor.
We estimate that we help more than a million people each year in education and employment. This level of commitment by all our staff is behind us being named as The Assignment Report’s Education Company of the Year.”

The Assignment Report is a main point of reference for companies in the education business. It provides the most comprehensive analysis and comment on all education companies operating across the UK. It is written specifically for those concerned with the details of financial performance, transactions, buy-outs and mergers across the 250 companies that make up the business.

* Earnings Before Interest, Taxes, Depreciation and Amortisation