Launch of New Financial Services Qualifications - October 5 2006
Education Development International plc (EDI), which provides accredited examinations services, qualifications and IT-based back office delivery systems for qualifications and assessments, announces that it has produced a revised set of qualifications for people working, or wanting to work, in the retail side of the financial services industry.
The new National Vocational Qualifications were produced by EDI in conjunction with the Financial Services Skills Council (FSSC) and focus on banking, general and life insurance and investment administration.
Two qualifications (Retail Financial Services Level 2 & Level 3) have been accredited by the Qualifications and Curriculum Authority (QCA) of the UK. EDI and FSSC staff worked closely with representatives and financial services companies to develop the new qualifications to meet the requirements of employers. The qualifications are assessed through on-the-job learning and practical demonstration of skills and ability, rather than through written tests and examinations. Specific technical areas can be chosen as options in the course and include bank accounts, customer payments, financial services customer care, insurance claims, insurance intermediation, insurance underwriting, long term insurance and sales process.
The previous NVQs were replaced as they were considered too rigid and to reflect the wide range and changing nature of job roles within the financial services sector.
The qualifications are produced by EDI's Vocational Qualification division. EDI is one of the UK's premier examining and awarding bodies and offers an extensive range of tests and qualifications which are accredited by the UK regulatory authorities. Last year, EDI registered 200,000 learners across a wide range of Goal Vocational Qualifications. |
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Trading Statement - October 5 2006
Trading Update
EDI to Meet Expectations and Recommend Payment of Maiden Dividend
Education Development International plc (EDI), the leading provider of educational qualifications and assessment services, today announced a trading update for the year ended 30 September 2006.
2005/06 has been a productive year in the development of the company during which EDI has reinforced its position as a leading provider of vocational qualifications, business examinations and innovative, technology based assessment services. The company has also completed major organisation and systems development programmes and has strengthened its business development capability both in the UK and internationally.
In international markets, performance in Germany has improved and the new financial arrangements with our agent in Zimbabwe are working satisfactorily. The vocational qualifications business in the UK has continued to make good progress. Integration of the Joint Examining Board business, acquired in May, was completed by the end of September.
EDI has continued to pursue an active product development programme - including small scale acquisitions of existing qualification services. Separate announcements have been released today on RNS Reach outlining both the acquisition from the AQA Examinations Board of the Jetset range of English language tests and the accreditation by the Government¿s Qualifications and Curriculum Authority of the first retail financial services qualifications based on the national standards published by the Financial Services Skills Council in April.
Overall the Board has been pleased with the Group's performance during the second half of the year and trading for the full year is in line with expectations. In the light of this performance, the Board will, as indicated in the interim statement, recommend to the forthcoming AGM the payment of a maiden dividend.
EDI will announce its preliminary results on 20 November 2006. |
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JetSet Acquisition - October 5 2006
Education Development International plc (EDI), which provides accredited examinations services, qualifications and IT-based back office delivery systems for qualifications and assessments, announces the acquisition of JetSet, from the Assessment and Qualifications Alliance (AQA) for a consideration of £50,000 in cash.
JetSet is a popular suite of skills based English language tests designed for children, 6 - 16 years old, whose first language is not English. The unit based Certificate, which is already used in 40 countries around the world, comprises 5 Junior English Tests (JET) and 2 Senior English Tests (SET).
Over 300 education institutions are already registered to offer JetSet and in the last full year almost 5,000 learners completed the JetSet tests around the world, generating a revenue in the region of £80,000. With EDI's existing network of international centres and expertise in English language qualifications there is an excellent fit with the existing EDI suite of qualifications.
EDI is already recognised as global English language specialists, under the London Chamber of Commerce and Industry International Qualification (LCCI IQ) brand it currently delivers 45,000 English for Business qualifications and a range of fully online reading, writing, speaking and listening language assessments. As part of the UK Government's 'Skills for Life' initiative, EDI has also been accredited to offer English for Speaker of Other Languages (ESOL) Certificates to students in the UK.
Nigel Snook, Chief Executive of EDI, said:
'With the addition of JetSet, EDI now has a comprehensive range of English language qualifications and can now offer our global customer base English language assessments for all age groups.' |
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