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Stagecoach a smart act despite recession
Rosamund Urwin03.02.09
Drama, singing and dance schools group Stagecoach Theatre Arts is shrugging off the recession as youngsters continue to dream of a life on the big screen or stage.
The company, which has a network of schools around the world and counts Billy Elliot and Defiance star Jamie Bell among its alumni, today posted a 28% jump in pre-tax profits to £330,000 for the six months to 30 November from £260,000 in the same period in 2007.
Managing director David Sprigg explained the resilient performance: “Our experience in the past 20 years has been that children's education is one of the last items of expenditure to be cut from the family budget.”
Profits were boosted by a rise in franchise fees and a cost-cutting programme, enabling the company to pay its first interim dividend, of 0.5p.
Last year, at least one Stagecoach student performed in every West End musical that had children in its cast.
Stagecoach was founded in 1988 and now has more than 700 children's theatre schools nationwide.
