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Profitable year for Carter & Carter

Automotive training provider Carter & Carter Group has seen business grow by a third and a large jump in profits in the year of its flotation on the stock exchange.

Its preliminary results for the year to July 31, 2005, show turnover up to £51m against £38.2 in the previous period, an increase of 33%. Operating profit has increased 44% to £7.3m from £5.1m.

The Peterborough-based business has its sights set on further growth, to compliment the services it already provides.

In January it bought the AA’s technical services operation, which it integrated into its subsidiary EMTEC. And in August, it bought ASSA Training & Learning, which gives it an opportunity to explore the potential of developing Government-funded adult learning programme’s for vehicle manufacturers and their franchise networks.

“The group has a target of being number one in the vocational learning market, with a 20% market share in the medium term,” says chief executive Phil Carter. At present its market share is around 5%. Growth will be organic and by acquiring some of the many small training businesses, which have specific fields of expertise.

Carter & Carter has two divisions. Its Vocational Learning division, which includes EMTEC and ASSA Training & Learning, provides apprenticeship and pre-apprenticeship programmes for a large number of carmakers including Renault, Toyota and VW Group.

Its Outsource Learning division delivers on-site training in sales of vehicles, parts and servicing for manufacturers’ dealer networks.

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