It has been a busy year for the Group, as snapshots from just one month show: in May strategic cooperation memoranda were signed with three education groups in China; one of Vietnam’s most esteemed schools became the first state school in the entire country to offer Cambridge International A Levels; Romania hosted the first forum for Cambridge International Principals in Central and Eastern Europe; and Paraguay’s Ministry of Education recognised Cambridge Assessment English exams.
The Group has more than trebled in size since 2002; in the year covered by this report (August 2016 to July 2017) we generated revenue of over £413 million - up by more than five per cent on last year - any surplus, as usual, going back into education.
Powerful global social and economic drivers are creating opportunities for the Group worldwide, and underpin our prospects for sustainable growth. Both public and private education systems increasingly see the need to align their teaching and assessment to global standards, without sacrificing their distinctive national perspectives and values. This demand plays to our strengths and those of our partners.
This was also a year in which we completed our rebranding. The previous Cambridge Assessment branding and logo were introduced in 2005, and after 12 years it was felt appropriate to update and replace them. The new branding more directly reflects our status as part of the University and provides an effective vehicle for greater collaboration.
We also announced that our Group Chief Executive, Simon Lebus, will be standing down after nearly 16 years in the role. The final chapter of this year’s Annual Review contains Simon’s thoughts on his time at the helm – a period which, as he says, has seen some massive changes in education.