Financial Times: Online learning demand lifts Epic

by David Blackwell

Epic, the online learning company, more than doubled pre-tax profits to £1.8m in the year to May 31. The increase came on the back of continuing growth in online learning, particularly in the public sector, which accounts for more than half of turnover. Total sales rose from £7.2m to £8.75m.

The company said the e-learning market was spreading from corporate training into all areas of the public sector, even though the overall training market had declined. The latest profits included interest of £377,000 on the cash pile of £11.7m. Earnings rose from 3.2p to 6.8p. The proposed final dividend of 1p takes the total pay-out to 1.4p - the first year the company has paid a dividend.