TIDMPGY
RNS Number : 7379Z
Progility PLC
22 September 2015
22 September 2015
Progility plc
("Progility" or "the Company" or "the Group")
Final Results
Progility plc (AIM: PGY) is the holding company of a systems
integration and project management services group which has been
created to provide a range of project management services including
innovative and market leading technology solutions.
Chairman's Statement
I am pleased to present Progility's results for the twelve
months to 30 June 2015. The results show a business making
significant progress in its growth ambitions over the last twelve
months through further acquisitions; of a unified communications
business in India, strikingly similar in scope and magnitude to
that which we already owned in Australia; of an operating theatre
fit-out business in the UK and of a UK training and apprenticeship
business. We have also made significant steps in improving our
existing businesses.
Shortly after the start of our financial year, on 14 July 2014,
we acquired Starkstrom Group Limited, a project services company in
the healthcare sector, currently focused on providing, equipping
and servicing operating theatres within hospitals. Two further
acquisitions followed at the end of the calendar year, 2014. On 30
December 2014, the Group completed the acquisition of the Indian
business of the Unify Group, the communications joint venture
between Siemens AG and US private equity firm, Gores Group. On 5
January 2015, the Group then completed the acquisition of a
training and development services business, Woodspeen Training
Limited, providing apprenticeships and skills development with the
help of public funding. In May 2015 we registered a new company in
Dubai that will promote and sell the Starkstrom's Healthcare
products into and beyond the region.
Our strategic objective is to stabilise and develop the Group's
project management services, particularly in technology, training
and consulting solutions, where the Board believes we can generate
above average returns. Progility currently represents a platform
upon which we are establishing a portfolio of project services
businesses, with the ability to service our international client
base and provide an integrated offering to address our clients'
needs. Corporate activity of this sort continues and we are
constantly looking for opportunities to acquire complementary
businesses or businesses which provide an established presence in
new industry verticals where the Group's skills and services can be
profitably applied. In total, over the last twelve months, the
aggregate value of these transactions amounted to over GBP11m.
Financial Performance
As we embark upon the next phase of our growth, and with the
appointment of our new CFO and a change of auditors, we have taken
the view that it is both necessary and prudent to review a number
of our accounting practices. We have therefore, reviewed our
application of our revenue recognition policy on the sale of
on-line training materials, recognising on-line training over the
period of the contract. We have also taken a more stringent view of
the recoverability of deferred tax assets, resulting in the
write-down of such an asset in our Australian business. These items
are accounted for as prior year adjustments. These are explained as
appropriate in the notes.
Overall our business generated a profit before tax of GBP0.51
million (2014: GBP0.43 million), after taking into account a
bargain gain, arising from the acquisition of the Indian business,
of GBP3.23 million, on turnover generated of some GBP60.06 million
(2014: GBP39.54 million). The growth in turnover arose very largely
from the three acquisitions executed during the year, the full year
effects of which will of course be seen in the current year.
The board's objective remains to grow the group's business,
reinvesting such funds as are generated to implement its stated
strategy.
The board will not therefore be proposing the payment of a
dividend.
Business operations
The business now comprises operations in Australasia, India, the
United Kingdom and the Middle East. Australia has had a difficult
year, driven largely by the very disappointing circumstances of the
mining industry there and around the world, as the strong engine of
Chinese growth has slowed. That factor in turn has further weakened
the Australian dollar, thus exacerbating an already difficult
situation. The general level of business confidence in Australia
has affected our other communications business there as the
readiness to commit to such investment has slowed lately. The
training businesses in Australia and New Zealand continue
nonetheless to trade profitably, generating interest and providing
customers with globally recognised qualifications in project
management. Our early experience in India has been encouraging,
with the strong management team acquired with the business
providing a degree of confidence that the inevitable challenges of
trading in a competitive Indian market are under control. Cash
generation there continues strongly and the compelling nature of
our offering is proving a real asset. India and Australasia
together combine to form our Southern segment.
The ILX training business in the UK, after some years of
turnover decline, has recently secured the services of a highly
competent Managing Director whose early impact on the business has
been positive. We are confident that the upgrading of that business
now underway will pay dividends in the near term. The UAE-based ILX
training business continued to make progress. Woodspeen, which had
been part of the group in the UK for six months at the period end,
saw some growth and the recent appointment of an interim MD has
been necessary to take the business to the next level. The
Starkstrom acquisition has given the group greater exposure to the
exciting world of healthcare and the business has continued
profitably to grow, particularly in the area of its service
business. The opportunity with our geographic stretch to grow that
business outside of its home market has been eagerly grasped with
the appointment of a Dubai-based Managing Director. The UK
Recruitment businesses have enjoyed a good year, with some modest
growth and Consulting in the UK has been a little disappointing as
the very competitive tenders in that business have constrained our
ability fully to recover our costs. These businesses as a whole in
the UK and Middle East comprise the Northern segment.
Management and the Board
During the year we saw a number of changes to the board. In
early March, we said goodbye to one of our Non-executive directors,
Paul Lever, whose sage advice had been available to the board for
over twelve years. At the end of March, John McIntosh, our CFO
resigned, after two and a half years, to pursue other interests.
After the year end, at the end of July, Donald Stewart left the
company, some three years after joining Progility, to develop his
professional practice. I should like to take this opportunity to
thank them each for their considerable contributions and to wish
them well in their future endeavours. At the time of John's
resignation, we appointed Hugh Cawley as our CFO and we welcome his
contribution to the board in its deliberations.
Alongside these changes, we have made some significant additions
to the management capability of the senior teams, as well as, of
course, inheriting further skills and experience from the
acquisitions we have made. We are now well placed, in terms of a
mix of skills and abilities, to take advantage of the opportunities
that are already apparent from ownership of a diverse portfolio of
businesses.
Prospects
We believe there remains a significant opportunity to leverage
our strong international customer base. The combination, for
instance, of our strengths in supplying apprenticeships, training,
recruitment and consulting holds some exciting prospects for
helping our clients in a variety of ways.
We shall of course continue to look at opportunities to acquire
other suitable businesses which are capable of delivering
profitable growth to the existing platform and indeed to extend
that platform still further.
Wayne Bos
Executive Chairman
Financial Review
Operating performance
The Group delivered revenues of GBP60.06 million (2014: GBP39.54
million), growth of 51.9%. All of this growth was derived from the
acquisitions in the year, as the pre-existing business experienced
some modest falling away of turnover, most particularly in the
Australian business. Gross margins increased to 38.3% (2014:
36.0%). Operating profit after excluding highlighted items fell to
GBP0.2 million (2014: 3.0 million).
Highlighted items include acquisition related costs of GBP0.45
million (2014: GBP1.07 million), an impairment charge of GBP0.23
million (2014: GBP0.56 million) and a bargain gain on acquisition,
from the Indian deal, of GBP3.23 million (2014: GBPnil).
Before Underlying Result
highlighted result for the
items Acquisitions for the year ended
30.6.2015 in the period 30.6.2014
period 30.6.2015 Restated
GBP'000 GBP'000 GBP'000 GBP'000
Revenue 60,056 25,282 34,774 39,539
Operating
profit 185 1,658 (1,473) 3,044
============= ============= =========== ============
Finance costs
The Group incurred net finance costs of GBP2.23 million (2014:
GBP0.98 million) during the reporting period. The year on year
increase reflects most particularly the increased levels of debt
associated with the acquisitions made during the year.
Taxation
The tax expense for the year was GBP0.02 million (2014: GBP0.24
million), reflecting inter alia the non-taxable nature of the
bargain gain on the Indian acquisition.
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Profit for the period and earnings per share
The profit attributable to equity shareholders was GBP0.49
million (2014: GBP0.19 million). Earnings per share were 0.24 pence
basic and diluted (2014: 0.09 pence).
Going concern
The Group has prepared its accounts on a going concern basis
based on current forecasts for the period through to November 2016.
While the Group currently has slightly negative net current assets,
the Board believes that it can meet its day-to-day working capital
requirements from operating cash flows and its existing facilities.
The Company's largest shareholder, Praxis Trustees Limited, as
trustee of the DNY Trust, announced its intention, on 7 July 2014,
to support Progility by making up to GBP30 million available on
commercial terms. This facility retains significant capacity.
Cash flow, net debt and facilities
Cash flow
Cash generated from operating activities was GBP1.31 million
(2014: GBP0.45 million). The Group generates operating cash flow
from its product sales, maintenance contracts and from advance
payments from customers.
The Group paid GBP0.44 million in income tax during the period
of reporting (2014: GBP0.01 million received).
The Group continues to invest in its staff development, its
product range and also incurred capital expenditure in the period
relating to updates of intellectual property assets, product
development and its internal systems and equipment to improve
operating efficiency.
Net debt and facilities
At the balance sheet date the Group's debt comprised loans and
overdrafts due within one year of GBP3.29 million (2014: GBP3.70
million) and GBP14.84 million (2014: GBP4.58 million) falling due
in over one year. Of these amounts a total of GBP15.20 million
represents shareholder loans made up of GBP0.36 million of
convertible loan notes and GBP14.84 million of other notes.
Of the bank facilities drawn at the balance sheet date, the
fixed term loan of GBP0.6 million is expected to be repaid in full
within the next seven months with GBP0.2 million having already
been paid since the balance sheet date. At the balance sheet date
GBP0.2 million of the overdraft facility remained undrawn.
Net debt at the year end, defined as all bank and third party
debt, less cash at bank, excluding shareholder loans was an asset
of GBP0.6 million (2014: liability GBP1.6 million). This comprised:
GBP3.5 million in cash balances, less GBP0.8 million in bank
facilities drawn, invoice discounting facilities of GBP1.2 million
and other third party loans of GBP1.0 million.
Dividend
As noted above, it is the Board's objective to invest to grow
the Group's business. That ambition, together with a lack of
distributable reserves militates against the payment of a dividend
for the period ended 30 June 2015. As the Board intends that income
generated by the Group will generally be re-invested to implement
the Group's growth strategy this is likely to remain the position
for the foreseeable future.
Post balance sheet events
There have been no post balance sheet events which would affect
the overview of the Group provided by these statements.
On behalf of the Board
Hugh C L Cawley
CFO and Company Secretary
Consolidated Statement of Comprehensive Income for the Year
ended 30 June 2015
Before Before
Highlighted Year Highlighted Year
items Highlighted ended items Highlighted ended
30.6.2015 items 30.6.2015 30.6.2014 items 30.6.2014
Restated Restated Restated
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Revenue 60,056 - 60,056 39,539 - 39,539
Cost of sales (37,078) - (37,078) (25,299) - (25,299)
------------- ------------ ----------- ------------- ------------ -----------
Gross profit 22,978 - 22,978 14,240 - 14,240
Administrative
and distribution
expenses (22,793) (447) (23,240) (11,196) (1,072) (12,268)
Other income - 3,227 3,227 - - -
Other expenses - (229) (229) - (562) (562)
------------- ------------ ----------- ------------- ------------ -----------
Operating profit 185 2,551 2,736 3,044 (1,634) 1,410
Finance income 65 - 65 - - -
Finance costs (2,296) - (2,296) (984) - (984)
------------- ------------ ----------- ------------- ------------ -----------
Profit before
tax (2,046) 2,551 505 2,060 (1,634) 426
Tax expense (64) 46 (18) (241) - (241)
------------- ------------ ----------- ------------- ------------ -----------
Profit for the
year attributable
to equity shareholders (2,110) 2,597 487 1,819 (1,634) 185
============= ============ ============= ============
Items that may
be reclassified
to profit or
loss
Currency translation
differences on
foreign operations (287) 42
----------- -----------
Other comprehensive
income, net of
tax (287) 42
----------- -----------
Total comprehensive
income 200 227
=========== ===========
Earnings per
share
Basic 0.24p 0.09p
Diluted 0.24p 0.09p
Consolidated statement of Financial Position for the Year ended
30 June 2015
As at As at As at
30.6.2015 30.6.2014 30.6.2013
Restated Restated
Assets GBP'000 GBP'000 GBP'000
Non-current assets
Plant and equipment 1,449 861 986
Intangible assets 20,135 11,503 12,210
Deferred tax asset 888 277 442
----------- ----------- -----------
Total non-current
assets 22,472 12,641 13,638
----------- ----------- -----------
Current assets
Inventories 4,001 3,251 2,068
Trade and other receivables 16,554 7,813 8,177
Other current assets 2,107 428 451
Tax receivable 41 82 82
Cash and cash equivalents 3,538 1,798 1,916
----------- ----------- -----------
Total current assets 26,241 13,372 12,694
Total assets 48,713 26,013 26,332
----------- ----------- -----------
Current liabilities
Trade and other payables (19,889) (12,727) (13,271)
Deferred/contingent
consideration (2,041) (30) (307)
Provisions (4,282) (1,028) (969)
Tax liabilities (28) (55) (69)
Bank and shareholder
loans (3,288) (3,699) (3,127)
----------- ----------- -----------
Total current liabilities (29,528) (17,539) (17,743)
----------- ----------- -----------
Non-current liabilities
Contingent consideration - - (289)
Shareholder loans (14,837) (4,575) (4,611)
Deferred tax liability (199) (91) (91)
Provisions (90) (37) (57)
----------- ----------- -----------
Total non-current
liabilities (15,126) (4,703) (5,048)
----------- ----------- -----------
Total liabilities (44,654) (22,242) (22,791)
----------- ----------- -----------
Net assets 4,059 3,771 3,541
=========== =========== ===========
Equity
Issued share capital 19,967 19,967 19,967
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Share premium 114 114 114
Other reserve 75 75 75
Merger reserve (14,854) (14,854) (14,854)
Own shares in trust (2) (50) (50)
Share option reserve 43 16 152
Retained earnings (953) (1,453) (1,777)
Foreign currency translation
reserve (331) (44) (86)
Total equity 4,059 3,771 3,541
=========== =========== ===========
Consolidated Cash Flow Statement
Year ended Year ended
30.6.2015 30.6.2014
Restated
GBP'000 GBP'000
Operating profit 2,736 1,410
Adjustments for:
Depreciation and amortisation 1,154 720
Loss on fixed asset disposal 86 52
Impairment of intangibles 229 562
Gain on bargain purchase (3,227) -
Share option charge 40 3
Revaluation of own shares held 48 -
in trust
Movement in inventories 1,101 (1,359)
Movement in trade and other receivables 146 322
Movement in trade and other payables (942) (1,306)
Exchange difference on consolidation (59) 46
----------- -----------
Cash generated from operations 1,312 450
Income taxes (paid)/recovered (439) 9
----------- -----------
Net cash generated from operating
activities 873 459
----------- -----------
Investing activities
Interest received 65 -
Purchases of property and equipment (555) (337)
Capitalised expenditure on product
development (52) (126)
Acquisition of subsidiaries,
net of cash acquired (8,032) (160)
----------- -----------
Net cash used by investing activities (8,574) (623)
----------- -----------
Financing activities
Proceeds from borrowings 11,286 3,739
Repayment of borrowings (1,235) (3,682)
Interest costs paid (408) (216)
Net cash from financing activities 9,643 (159)
----------- -----------
Net change in cash and cash equivalents 1,942 (323)
Cash and cash equivalents at
start of year 1,533 1,916
Effect of foreign exchange rate
differences (125) (60)
Cash and cash equivalents at
end of year 3,350 1,533
=========== ===========
Cash and cash equivalents comprise
Cash in hand and at bank 3,538 1,798
Bank overdraft (188) (265)
3,350 1,533
=========== ===========
Statement of Changes in Equity for the year ended 30 June
2015
Called Own Foreign
up Share shares Share currency
share premium Other Merger in option translation Retained
capital account reserve reserve trust reserve reserve earnings Total
Group GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Balance
at 30.6.2013 19,967 114 75 (14,854) (50) 152 (86) 1,709 7,027
Adjustment
to reflect
prior year
adjustment - - - - - - - (3,486) (3,486)
-------- -------- -------- --------- -------- -------- ------------ --------- --------
Revised
balance
at 30.6.2013 19,967 114 75 (14,854) (50) 152 (86) (1,777) 3,541
Options
granted - - - - - 3 - - 3
Options
lapsed
and waived - - - - - (139) - 139 -
Transactions
with owners - - - - - (136) - 139 3
-------- -------- -------- --------- -------- -------- ------------ --------- --------
Profit
for the
year - - - - - - - 185 185
Other
comprehensive
income:
Foreign
currency
translation
adjustment - - - - - - 42 - 42
Total
comprehensive
income
for the
year - - - - - - 42 185 227
-------- -------- -------- --------- -------- -------- ------------ --------- --------
Balance
at 30.6.2014 19,967 114 75 (14,854) (50) 16 (44) (1,453) 3,771
Options
granted - - - - - 40 - - 40
Revaluation
of own
shares - - - - 48 - - - 48
Options
lapsed
and waived - - - - - (13) - 13 -
Transactions
with owners - - - - 48 27 - 13 88
-------- -------- -------- --------- -------- -------- ------------ --------- --------
Profit
for the
year - - - - - - - 487 487
Other
comprehensive
income:
Foreign
currency
translation
adjustment - - - - - - (287) - (287)
-------- -------- -------- --------- -------- --------
Total
comprehensive
income
for the
year - - - - - - (287) 487 200
-------- -------- -------- --------- -------- -------- ------------ --------- --------
Balance
at 30.6.2015 19,967 114 75 (14,854) (2) 43 (331) (953) 4,059
======== ======== ======== ========= ======== ======== ============ ========= ========
Financial Information
The preliminary financial information does not constitute
statutory accounts within the meaning of section 434 of the
Companies Act 2006 but is derived from the audited accounts for the
years ended 30 June 2015 and 30 June 2014.
Progility Plc (the "Company") is a public limited company
incorporated in England and Wales and, together with its
subsidiaries, forms the Progility group (the "Group"). These
financial statements are presented in pounds sterling which is the
Company's functional currency. All amounts have been rounded to the
nearest thousand unless otherwise indicated.
The Group financial statements were authorised for issue by the
Directors on 21 September 2015.
The Group financial statements consolidate those of the Company
and its subsidiaries. The Company financial statements present
information about the Company as a separate entity and not about
its Group.
Both the Group financial statements and the Company financial
statements have been prepared and approved by the Directors in
accordance with International Financial Reporting Standards
("IFRS") as adopted by the European Union ("EU"). In publishing the
Company financial statements here together with the Group financial
statements, the Company has taken advantage of the exemption in
Section 408 of the Companies Act 2006 not to present its individual
statement of comprehensive income and related notes that form a
part of these approved financial statements.
The statutory accounts for the year ended 30 June 2015 will be
delivered to the Registrar of Companies following the Company's
Annual General Meeting. Statutory accounts for the year ended 30
June 2014 have been filed with the Registrar of Companies. The
auditor's report on those 2014 accounts was unqualified.
Basis of preparation
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The preparation of the Group accounts in conformity with IFRS
requires management to make estimates and assumptions that affect
the reported amounts of revenues, expenses, assets and liabilities
and the disclosure of contingent liabilities at the date of the
financial statements. The key accounting estimates and assumptions
are set out below. Such estimates and assumptions are based on
historical experience and various other factors that are believed
to be reasonable in the circumstances and constitute management's
best judgment of conditions at the date of the financial
statements.
In the future, actual experience may deviate from these
estimates and assumptions, which could affect the financial
statements as the original estimates and assumptions are modified,
as appropriate, in the year in which the circumstances change.
The financial statements have been prepared on the historical
cost basis as modified by financial assets and financial
liabilities (including derivative financial instruments) at fair
value.
Prior year restatements
The prior year comparatives in these financial statements have
been restated to reflect the following:
1. Change to recognition of income from software licences
The Group previously recognised Revenue from software licences
at the start of the licence term provided that delivery had
occurred. Following a review of the method delivery of the
products, it has been determined that the correct practice should
be to recognise the revenue over the period of its availability to
the user rather than immediately upon the sale.
The opening balance sheet and 2014 comparatives in these
financial statements have been restated to reflect this change in
revenue recognition. The opening balance at 30 June 2013 has been
restated to include an increased deferred income creditor of
GBP2,677,000 and an increased deferred tax asset of GBP179,000.
During the year ended 30 June 2014 revenue has been restated
upwards by GBP754,000 to reflect the impact of the revenue
recognition policy, the tax charge for the period has also been
restated by GBP171,000.
2. Recognition of deferred tax asset
A deferred tax asset previously recognised at 30 June 2013 in
Progility Pty Ltd did not meet the Groups accounting policy for
recoverability. Accordingly the deferred tax assets at 30 June 2013
has been adjusted and restated by GBP988,000. The tax charge for
the year ended 30 June 2014 has also been restated by GBP81,000 so
as not to recognise the tax loss in the year for the company.
3. Reclassification of costs
Certain costs including administrative and technical staff
costs, marketing and IT costs which had previously classified as
costs of sales have been reclassified as administrative and
distribution expenses as it has been determined that this is the
correct classification of these costs. The amount of this
restatement in 2014 was GBP2,005,000, this has no impact on the
reported results for the year.
Summary of restatements
The impact of the above restatements on previously reported
amounts is summarised below:
Profit
for the
Net assets year end Net assets
at 30.6.14 30.6.14 at 30.6.13
GBP'000 GBP'000 GBP'000
Previously stated amounts 6,672 (358) 7,027
1 Recognition of software
licence revenue (1,917) 581 (2,498)
2 Deferred tax asset (1,069) (81) (988)
3 Reclassification of costs - - -
Foreign exchange difference 85 85 -
3,771 227 3,541
============ ========== ============
Highlighted items
The Group incurred costs during the year which we have
highlighted. These costs include transaction costs, restructuring
costs and other strategic, non-cash items including impairment,
bargain gain on acquisition and non-recurring acquisition expenses.
This has resulted in the following charges, gains and intangibles
impairment as follows:
Year ended
Year ended 30.6.2014
30.6.2015 Restated
GBP'000 GBP'000
Recurring
Acquisition and merger costs
* 447 1,072
Non-recurring
Bargain gain on acquisition ** (3,227) -
Impairment of intangibles *** 229 562
Total highlighted items (2,551) 1,634
=========== ===========
* Relates to the acquisitions of Starkstrom Group, Progility
India and Woodspeen in the period ended 30.6.2015 (2014:
acquisition of Sue Hill and Progility Pty Ltd)
** Relates to gain on the acquisition of Progility India.
*** Relates to the impairment of Obrar intangible assets.
Earnings per share
Earnings per share is calculated by dividing loss attributable
to shareholders by the weighted average number of shares in issue
during the year.
Potential ordinary shares arising under potential conversion of
the convertible loan and share options outstanding are considered
anti-dilutive for the year ended 30 June 2015 and the period ended
30 June 2014. At 30 June 2015, the 7.9 million outstanding share
options were excluded from the dilution calculation as the exercise
price of 10 pence was greater than the average price for the period
in issue.
Year
ended
Year ended 30.6.2014
30.6.2015 Restated
GBP'000 GBP'000
Profit for the year attributable
to equity shareholders 487 185
============ ============
Weighted average shares 199,666,880 199,666,880
Weighted average shares for
diluted earnings per share 199,666,880 199,666,880
============ ============
Basic earnings per share 0.24p 0.09p
Diluted earnings per
share 0.24p 0.09p
Copies of the Annual Report and Accounts are to be posted to the
Company's shareholders on 2 October 2015 and will be available,
along with this announcement, on Progility's website at
www.progility.com.
For further information, please
contact:
Progility plc
020 7371
Wayne Bos, Executive Chairman 4444
Hugh Cawley, CFO
www.progility.com
SPARK Advisory Partners Limited
(Nominated Adviser)
020 3368
Mark Brady 3551
020 3368
Sean Wyndham-Quin 3555
W H Ireland Limited (Broker)
020 7220
Adrian Hadden/Mark Leonard 1666
Group Description
Progility plc, the systems integrator and project management
services firm has four divisions: Technology Solutions, Training,
Consulting and Recruitment.
Technology Solutions
The technology solutions division comprises Progility
Technologies in Australia and India and Starkstrom in the UK.
Progility Technologies operates a communication systems
integration business that designs, implements and maintains
solutions for medium and large enterprises with a focus on the
rail, port, oil and gas, power, water and healthcare industries in
Australia, on the healthcare, hospitality, financial services,
public sector, manufacturing, education and IT sectors in India and
on the mining industry globally.
The Australian business, which was merged with the Group in
October 2013, is headquartered in Melbourne, Australia, and has
offices in Sydney, Brisbane, Perth, Latrobe Valley, and
Castlemaine. The Indian business joined the Group in December 2014,
is headquartered in Mumbai and operates through a network of 21
offices throughout India.
Starkstrom is a UK-based project management services company
specialising in manufacturing and supplying medical infrastructure
equipment for operating theatres and intensive care units. Acquired
in July 2014, Starkstrom is headquartered in north-west London and
with a manufacturing and assembly facility in Leicester.
Training
The training division comprises ILX Group and Woodspeen
Training. ILX provides a blend of on-line learning, games and
simulations, traditional classroom training, practical workshops
and coaching. ILX delivers training in the UK Cabinet Office's best
management practice products, primarily in PRINCE2, MSP and ITIL.
Woodspeen based in the UK provides apprenticeships and skill
development with the help of public funding.
Consulting
The consulting division comprises Obrar in the UK, a consulting
and project management services company, focused on multimedia
contact centres, corporate technology infrastructure and associated
operational change, with experience in delivering contact centre
outsourcing on a global basis.
Recruitment
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