Electric Word trading in line

Electric Word, which provides training services for the education, healthcare and sport sectors, said following its fundraising in August, trading is in line with company expectations.

In its update ahead of its results for the year ended November 30th 2012 the group, which provides specialist information and professional development using websites, magazine, books, training, conferences and consultancy services, said the Sport & Gaming division was boosted by the launch of its iGaming Business in the US. It expects iGaming to create further opportunities in 2013.

In SportBusiness, higher-value subscriptions and consulting services grew in 2012, offset by weaker advertising and investment in developing new services such as in the sports sponsorship market, the group explained.

In Education, growth in the Conferences business continued at the same time as investment in building the new digital schools management support service has been increased.

However the Health division endured a more turbulent market in 2012 with significant structural reforms that are expected to continue through 2013.

"As in the Education market, this will create opportunity in the medium term as new organisations are formed and further professional development requirements are introduced. Investment will continue in 2013 as the business evolves and develops," the group said.

Overall the group said it has made significant progress in developing new services around its evolving online platform and finishes the financial year with no net debt.

"We look forward to building on those achievements in 2013."

CJ