Coventry-based Education Development International saw operating profits rise by 14 per cent to £9.2 million last year.

The qualifications firm also saw revenue increase by four per cent to £29.5 million in the 12 months to the end of September.

EDI has been on the acquisition trail recently, with the purchase last week of Taunton-based Sector Training, which provides consultancy and training to further education colleges, and the buyout in February of Peter Honey Publications.

EDI chief executive Nigel Snook said: "The underlying strength of our business has enabled us to successfully address the challenges presented by the general economic situation and a period of political change in the UK.

"We have consolidated and built on the considerable gains achieved over recent years and despite slower revenue growth, adjusted earnings per share have increased by 20 per cent and we have maintained the key areas of our investment programme.

"Over a quarter of the group’s revenues come from international markets and in the UK we provide a range of services which are not dependent on government funding.

"Over recent weeks, the coalition government’s strategy and investment plans for vocational education and training have become clearer and although it is likely to be some time before the full impact of any changes flow through to our customers, the emerging position is broadly encouraging.

"During this transitional period we continue to be well positioned to compete for market share and over recent months we have taken actions to strengthen our position in the important further education colleges market where currently we have limited exposure."