From Jo Mithen, CEO
It's been a great year for the company with over 20% growth in almost all areas of business.
A large part of this growth has impacted over the last few months, especially in English, so I know many of us are looking forward to the forced closedown of the company which allows all of us a decent break.
When we look out to 2014, it seems the fun is going to continue. There are a number of business development activities happening and the pipeline looks strong for all business units. I thought it worthwhile to provide everyone with a quick snapshot of activity by country to help put it in context.
UK
Whilst we are not going to recruit from the UK, what happens in this part of the world impacts us. The UK Government recently changed their visa policies for graduating students, resulting in graduates being given only four months post-course completion to find work. By contrast, the Australian Government has recently introduced post-study work rights. These rights provide graduates up to two years of work in Australia, in any field, creating a strong incentive for students studying abroad to select Australia over the UK. We are beginning to see this shift in enrolment patterns.
Pakistan
Lachlan Grant and I recently spent four days in Pakistan meeting with a range of organisations to consider the opportunity to open Diploma programs in Business and Engineering in the country. There has been a 44% increase in Pakistan students travelling to Australia for study over the last year – most likely reflecting the UK visa changes – so this is a good time to commence discussions in this market. Pakistan has over 180 million people, is the third largest English speaking country in the world and has an established pattern of students studying abroad. Discussions are ongoing.
China
I have just returned from celebrating the 20th anniversary of New Oriental in Beijing. It was a great honour to be invited as the celebration was held in the Great Hall of the People in Beijing with a very small number of their international partners being invited to attend along with over 6,000 staff. We were the only University and the only Australian company represented. New Oriental is our exclusive provider of Foundation Year in China. While the endeavor has had a relatively slow start in 2013, with 70 students enrolled across 4 sites, their recent Foundation Year results are strong and they are optimistic of growth in 2014. It is anticipated many of these students will enter Diplomas before progressing to the University. Also in China, various other business development discussions are taking place at the request of the Faculty of Business and Economics. Ben Doran will be presenting at the Staff Forum in December on the vast array of activity in this country.
Indonesia
The recent announcement by the Federal Government of a grant of $15 million to establish an Australian Indonesian Centre at Monash University was the result of a lot of hard work by Vice-Chancellor Professorial Fellow, Paul Ramadge. Paul and I have been working to identify opportunities for MCPL within the activity of the University, and it is likely to expand in areas of English and internships throughout 2014.
Brazil
The impact of our Brazilian cohort is very hard to miss, especially if you have anything to do with internships or English language within our company! With over 260 students currently in our pre-English and over 90 interns being placed this summer, the sudden emergence of this market has been a wonderful shot in the arm this year. Expectations from the University are double the number for 2014, so this represents a huge, albeit slightly stressful, opportunity!
Japan
Lachlan, Kotaro and Mayumi are all currently in Japan and China drumming up new business for all of our business units. They have a full dance card of meetings which broaden the MCPL value proposition to include other business units such as Diplomas.
As an international business, it is really important that we keep abreast of developments in other markets. It is clear that there are a number of opportunities that are likely to unfold throughout 2014 and with the Federal Government making positive noises about the value of our sector, it is hoped this puts us in a strong position for future growth.
I look forward to seeing most of you at the annual Staff Forum where I will update you further about our 2013 year and 2014 opportunities. Most importantly I look forward to the end-of-year celebration, to share a thank you drink with you, and to celebrate a strong year throughout 2013.
