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A BUSINESS TRANSFORMED

A BUSINESS TRANSFORMED. May 2006. Financial Highlights. Turnover up 76% to £6.91m (2005: £3.92m) Operating profit up 30% to £1.00m (2005: £0.77m) Profit before tax up 20% £0.94m (2005: £0.78m) Net profit up 117% to £1.70m (2005: £0.78m)

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A BUSINESS TRANSFORMED

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  1. A BUSINESS TRANSFORMED May 2006

  2. Financial Highlights • Turnover up 76% to £6.91m (2005: £3.92m) • Operating profit up 30% to £1.00m (2005: £0.77m) • Profit before tax up 20% £0.94m (2005: £0.78m) • Net profit up 117% to £1.70m (2005: £0.78m) • Strong organic growth of 29% from continuing operations • Acquisitions: £0.53m turnover and £0.15m operating profit • Strong cash generation of £0.95m • Earnings per share up 64% to 16.39p (2005: 10.02p) • Maiden dividend of 0.75p

  3. Corporate Highlights • £4.0m acquisition of Mount Lane: November 2005 • £1.0m acquisition of Customer Projects: February 2006 • Group reorganised into one Best Practice operating unit • Growing market share • PRINCE2 95% up. Market growth of 30% • ITIL 157% up. Market growth of c.100% • ILX Group unique offering: • computer based training, • classroom based training • project management implementation consultancy services

  4. The ILX Group • Vocational Education & Training Specialists • Business transformed over past four years • Five successful acquisitions since February 2004: - • Key Skills (PRINCE2 & ITIL Computer based training) • Computa-Friendly (IT Classroom training) • Mindscope (PRINCE2 & ITIL classroom training) • Mount Lane (Desktop migration projects) • Customer Projects (Project Management consultancy) • Strong organic growth • 30% pa in past 2 years • Now reorganised around Best Practice market

  5. Key Markets Served BEST PRACTICE • PRINCE2 project management industry standard: - • Market for training worth over £100m • Growing at 25-30% p.a. • Main markets UK, Europe, Asia Pacific & Australasia • Classroom training currently dominates market • ITIL (IT Infrastructure Library) industry standard for service management: - • Market for training larger globally than PRINCE2 • Market virtually doubled in 2005 • Major demand from Europe, North America, Asia Pacific, Australasia • Classroom training still predominant

  6. ILX Current Activities Best Practice • PRINCE2 & ITIL computer-based training • PRINCE2 & ITIL classroom training • Project Management implementation consultancy • Desktop Migration Projects & Helpdesk Support Finance • Financial awareness e-learning • Global demand driven by competitive pressures & regulation Bespoke Training Solutions • Built to order e-Learning & classroom training

  7. ILX – Leading Clients Over 2,000 customers served in last financial year Ministry of Defence

  8. ILX Group Results

  9. ILX Group Financials

  10. ILX Group Financials

  11. ILX Group Strategy • Build market leading presence in vocational training • High end training • well defined markets • Fragmented market; numerous acquisition opportunities • Best Practice markets offer major potential for growth • Reputation for delivery, helping to drive market share gains

  12. Strategic Driver 1 - Organic Growth • Keep pedal on organic growth • Organic Growth 30% pa over past two years • PRINCE2 and ITIL market growth high and sustained • Continue investing in higher growth areas • Innovate to stay ahead • Product & proposition • Thinking bigger and broader; not just another training supplier • Delivery and after sales crucial to reputation and credibility

  13. Strategic Driver 2 - Acquisitions • Vocational Training Sector • Highly fragmented • Many players struggling with legacy business models • Successful business owners often have no natural exit route • Options include: - • Continue consolidating in Best Practice activities • Open new front with divergent acquisition • Look for weightier targets

  14. The ILX Target Market – Vocational Training High end training well defined markets Gov’t backed Skills Initiatives Best Practice HR Compliance Banking & Finance FSA Compliance

  15. Current trading and outlook • First two months of trading very encouraging • Significant organic growth on like-for-like figures • Outlook very positive

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