Managed learning services company KnowledgePool today announced strong financial results, after an exceptional year of accolades, new business wins and expansion.
The company – which manages learning for major clients such as British Airways, Lloyds TSB and Merrill Lynch – achieved an operating profit on a turnover of £14.2m, a 90% increase in revenues. Its position as the UK market leader in managed learning has been verified by NelsonHall, the outsourcing analyst firm, which maintains that KnowledgePool has 16% of a £110m UK market that is growing at 13% per annum.
Since October 2006, the start of its last financial year, KnowledgePool has won 11 major new contracts. During its third consecutive year of growth – since it became an independent business under private equity ownership – the company relocated to larger premises in Bracknell, Berkshire, and it also enjoyed a series of high profile accolades.
It was ranked as one of the top 20 companies, in the worldwide training outsourcing industry, by TrainingOutsourcing.com. It won the bronze award for ‘Training Company of the Year’, at the Institute of IT Training Awards. It was also short-listed as a finalist for two World of Learning Awards: ‘Learning Innovation of the Year’ (for its fresh approach to managed learning) and ‘Blended Solution of the Year’ (for a blended learning programme designed and delivered for the Home Office).
Paul Jefferson, CEO of KnowledgePool, said: “It’s been an exceptional year for us, not only in terms of our financial performance and our expansion but also for the public recognition we have achieved. The fact that we’re now firmly established as the UK market leader in managed learning is a testimony to the enthusiasm, expertise and professionalism of our staff and their continuing commitment to quality and customer service. As we move forward into 2008, we will continue to focus our investment to achieve future growth.”
KnowledgePool has over 40 years’ experience in the training industry. Working in partnership with in-house learning and development teams, it provides training administration, supplier management, learning consultancy and evaluation services.
Paul Jefferson said: “Organisations are increasingly looking to outsource aspects of their L&D provision, driven by a combination of cost pressure and a desire to refocus existing L&D resource from labour-intensive administration to higher value-added activities. We are seeing increased demand from a variety of industry sectors including regulated industries, where there is a requirement for compliance training.
“We help by taking over the responsibility for the day-to-day management of learning, allowing clients the freedom to focus on strategy and policy and meeting business goals. Our clients’ L&D teams benefit from our L&D and outsourcing expertise, better management and visibility of their learning spend, cost reductions and an increase in learning’s overall strategic contribution.”