My Top Three Blogs

My top three blogs were from Bronte Marshall, Lara Shaw and Sophie O’Brien. All three of these blogs were written and presented very well.

Sophie’s blog is really well set out she has included videos, pictures and links to all of her annual reports. Sophie has talked about the financial position of her company Mondaphous (a leading engineering group, based in Perth, Western Australia). By what I have read on Sophie’s blog the company is extremely successful growing revenue in the past financial year by 37.8% and hitting the 2 billion dollar mark for the first time. Sophie has also included some other interesting facts along with videos about the company to add extra information. I like Sophie’s blog because it is interesting and simple at the same time. She has inspired me to include some videos on my blog as well.

Bronte’s blog is also very well set out. Bronte has included links to her financial stamens going back to year ending 30 June 2011. She has explained in some detail how the company is sitting financially as the end of the 2013 financial year. By the looks of what Bronte has written her company Greencross Vet (which is quite a well-known Australian veterinary clinic) has been growing revenue year on year. For the first time Greencross hit the 100 million dollar mark which is fantastic for any company. Bronte has then given revenue figures for the past 3 financial years: 2013 $106.704m, 2012 82.603m and 2011 61.216m. Bronte then also gives key points as to why Greencross has made such a great profit over the last few years and this is due to the opening of Greencross new state of the art veterinary hospital. Lastly Bronte has also included some key concept which she has learnt from chapter 1 and 3 study guide. I think Bronte has put in a lot of effort to her blog and it has paid off.

Lara Shaw’s blog was quite similar to Bronte’s, it is very well set out. I like that Lara has included some of the key concepts from her annual report readings and included some of the questions that she also had from that process. The only thing that I would suggest be a little different is that she could include some more financial information on her company. Lara Company is the Australian Agricultural Company, she has talked a bit about the disposal of some of the company’s property, plant and equipment, which shows that she has an understanding of what is happening in her company and that she has done some research. I like Lara’s blog because it’s got a mixture of different information and it presented well.

AIT

Go Study Australia

Greenwich College

Corporate Governance Practices

::Redhill Education::

Corporate Governance Practices:

The board of Redhill Education has adopted a board charter. The board charter formalises the roles and responsibilities and defines the matters that are reserved for the board and specific matters that are delegated to senior executives.

To comply with the ASX corporate governance council’s principles and recommendations Redhill Educations has a board that is made of a majority of independent directors. Mr Beerworth, Dr Clark and Ms Trotman are independent non-executive directors. Mr Deane is a non-executive director who was engaged in an executive capacity on a part-time basis for approximately one month following the resignation of the company’s first CEO. Mr Elith is an executive director. The chair should also be an independent director, which he is – Mr Beerworth is an independent Non-executive Director. The Chair and the CEO should also not be exercised by the same individual. Mr Beerworth is the chair of the board and Mr Elith the CEO.

The board has adopted a code of conduct. The code of conduct sets clear values, emphasizing culture, sounds business practices and good ethical behaviour.

The company also has an audit and risk committee to help safeguard integrity in financial reporting.

The company has adopted a continuous disclosure policy to ensure that it complies with the continuous discloser regime under the ASX listing Rules and the Corporations act.

There is a risk management policy in place to identify business risks and for development and implementation of risk management and internal controls. 

The board have also established a remuneration committee and has adopted a remuneration committee charter. This charter is put in place to ensure that the company remunerates fairly and responsibly. Members of the remuneration committee are Ms Trotman (chair), Mr Beerworth, Mr Deane and Dr Clark. There are no schemes in place for retirement benefits other than superannuation for the executive directors.

You can find the following documents on the company’s website - http://www.redhilleducation.com/investor-centre/

Board Charter

Charter of the audit and risk management committee

Charter of the remuneration committee

Code of Conduct

Code of conduct – directors and senior officers

Continuous disclosure policy

Diversity policy

Employee Share Option Plan Rules

Risk Management Policy

Securities Trading Policy

 

 

 

Background Information on Redhill Education

Firstly let’s look at where Redhill Education stands financially. At the end of the 2010/11 financial year Redhill education reported an Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) loss of $1.10m and in the financial year that followed 2011/12 things didn't seem to get any better, in fact they got worst with an EBITDA loss of 1.37m.

With each business unit and the consolidated entity reporting positive EBITDA results for the 2012/13 financial year there was finally an EBITDA profit of 1.29m for financial year ending June 2013. It looks like Redhill Education has found a great direction and its financial future is now looking stronger than ever.

Redhill Education relies heavily on international student applications, so when international education started to decline in 2010 so did Redhill Educations profits. There are many reasons for the decline in international student applications and some of these include the changes to the visa application process making it harder for international students to gain citizenship after completing a course, the strong currency and more educational competition offshore. The Australian 2013, Redhill climbs out of trough, viewed 6 March 2014, http://www.theaustralian.com.au/higher-education/redhill-climbs-out-of-trough/story-e6frgcjx-1226583744753#

Redhill education is a company that sells education to Australian and international students. The company provides English Language and a range of Information Technology, Design and Business programs at both vocational and degree levels.

In 2006 Redhill education was established, with an aim of becoming a leader in innovative, quality, outcome-driven education. Redhill education is made up of four business units; these include Go Study Australia, Greenwich English College, Academy of Information Technology (AIT) and International School of Colour and Design (ISCD).

The Go Study unit recruits international students that are wishing to travel to Australia in order to study. Go Study has seven offices in 3 different countries, which include Italy, Spain and Colombia and currently recruits over 2000 students per year for English, vocational and higher education courses. This unit has grown student numbers, revenue and profit contributions to the Redhill group by more than 25% year on year.

The Greenwich English College unit teaches the English language to international students and is known as one of the best English language schools in Sydney catering to 600 students in its inner Sydney campus. Greenwich is also the only Australian accredited provider of Certificate Four in Teaching English to Child Speakers of other Languages.

The Academy of information Technology (AIT) has both Australian and International students attending as its provides a range of specialist vocational and higher education digital design, information technology and multimedia programs. The campus has around 300 students and has been the forefront of digital education in Australia and has been around since 1999.

Lastly the International School of Colour and Design (ISCD) was founded by Prue Royal in 1983, Redhill then acquired the unit in 2010. The ISCD is now an industry leader in providing design related courses to Australians and can be study on campus or via distance education. Redhill Education, 2010, About Us, viewed 5 March 2014, http://www.redhilleducation.com/about

Redhill has had some pretty big financial blows over the past few years; however the company is now starting to reap the rewards of their hard work. They are definitely not out of the dark yet, but things are starting to look up for them. I have included some links below to more information on the company.

Links and further interesting information:

http://www.theaustralian.com.au/higher-education/redhill-climbs-out-of-trough/story-e6frgcjx-1226583744753#

http://www.smh.com.au/business/markets/education-market-ready-for-players-to-bulk-up-20121106-28w1d.html%22%3E%3C/a

http://www.fusioninvesting.com/2010/11/redhill-education-limited-rdh/

http://au.investsmart.com.au/shares/asx/RedHill-Education-RDH.asp

http://www.smartcompany.com.au/finance/16175-20100825-education-provider-redhill-education-to-launch--27-million-ipo.html#

http://shares.intelligentinvestor.com.au/company/RedHill-Education-Limited-RDH-6564198/

Welcome to my Blog

Hi Everyone, Welcome to my Blog. I have called it, ever so fittingly, the Determination Point. All through school I was always awarded for my determination to succeed, I am now 24 years old and am still a very determined person. I’m looking forward to sharing all the information I am about to learn about the company I have been assigned - Redhill Education. Jami-Lee “The beautiful thing about learning is that no one can take it away from you.” B.B King