News

05 September 2012 | Education | Corero Network Security plc

Corero top of the class as education sales rise 34%

Corero Network Security plc has issued its interim accounts. The Company operates two businesses one of which is Corero Business Systems (“CBS”). CBS is a leading provider of modular accounting, human resources, payroll and management information software to the schools (including academies) and further education sectors in the UK and internationally.

​Revenues increased by 34% in the first half of 2012 to $4.1 million (H1 2011: $3.1 million). CBS continues to perform strongly with sales order intake (bookings as opposed to amounts recognised as revenue) in the six month period ended 30 June 2012 up 19% to $4.7 million (2011: $4.0 million).

CBS reported an operating profit (before central costs) in the six months to 30 June 2012 of $1.0 million (H1 2011: $0.85 million).

Key achievements in the first half of 2012 include securing 143 new Academy and school customers bringing the total to 450 academy and school customers. Management believe the Academy market in England will continue to grow offering CBS new opportunities in the UK and international schools market.

Comment:

​Cerero’s CBS business continues to generate impressive growth in the UK academy market but this performance remains overshadowed by its recently acquired loss making network security business.

knowledge base

 

The Business of Education

An analysis of recent deals including an up to date exit valuation of MPW.

Selling your company - how to get it right

Selling your company is likely to be a once in a lifetime experience. It is essential you get it right.

More →

Services

 

Our expertise

Deal origination - acquisitions - We help quoted companies and private equity houses source acquisitions in the UK and overseas.

Deal origination - disposals - We help owners of companies wishing to dispose of their business.

IPO advice - We provide strategic, financial and valuation advice to companies considering an IPO.

Valuation - We undertake valuations for ESOP transactions, employee share schemes and for a wide range of fiscal, legal and commercial purposes.

Our sectors

Our corporate finance skills can be employed in a wide range of sectors. We have a particular strength in animal health, education, outsourcing, IT, data analytics and financial publishing.

More →