Teacher training company Hibernia College back in black with €500,000 profit

Online teacher training company Hibernia College returned to profit in 2018, recording a pre-tax profit of €507,794.

The figure compared to a pre-tax loss of €94,302 in 2017. Newly-filed accounts for Hibernia College Unlimited Company show the business generated revenues of €10.9m in the 12 months to the end of July 2018, 8.3% up on the previous year.

Hibernia employed 82 people during the year in question and its staff costs increased from €3.95m to just under €4.2m.

Its directors are listed as Seán Rowland, Sara McDonnell and Sean Corkery and pay to directors decreased from €328,807 to €314,138. Pay to key management personnel made up of directors and other key members of management totalled €861,190.

The company - which was restructured in 2015 - has said it will continue to develop and expand its suite of courses and to investigate opportunities to grow internationally and in partnership with other educational and training centres.

According to the latest accounts, the company’s cash increased from €5.7m to €5.9m in 2018. The profit for that year takes account of combined non-cash depreciation and amortisation costs of €830,817.