Ireland’s most prestigious private school has recorded pre-tax losses of €2.7m. The losses were incurred due to a significant increase in spending and declining enrolment numbers amidst the ongoing Covid-19 pandemic. The news of the financial difficulties faced by the school has come as a shock to many as it has long been known for its exclusivity and high tuition fees that have made it one of the most sought-after schools in the country. As parents weigh their options for their children’s education, the future of this iconic institution remains uncertain.
The Nord Anglia International School in Leopardstown, south Dublin, which boasts the highest annual private fee-paying costs in the country at €22,356, has reported pretax losses of €2.7m for the year ending August 2020. This represents a 40% decrease in losses from the previous year, however, thanks to a revenue increase of 53% to €7.2m. The school’s student population grew by 72% during the same period and now accommodates 533 students. The directors stated that the company remains in a start-up phase and aims for continued growth despite the challenges presented by the global pandemic. The school employs 96 staff and currently teaches the International Baccalaureate programme to students aged from three to 18, representing 45 different nationalities.
In conclusion, the news of Ireland’s most expensive private school recording pre-tax losses of €2.7m is certainly shocking, but it is not entirely surprising given the current economic climate. While the pandemic has affected many businesses and institutions, it has become especially challenging for private schools as families are hit hard by financial difficulties. The school’s management will undoubtedly be reviewing their operations and implementing measures to improve their financial situation. As we move forward, inevitably, there will be more financial challenges that need to be addressed, and private schools may have to adapt and innovate to ensure their continued existence. Ultimately, the welfare and education of the students must be the top priority, and with the right management, the school can make a swift recovery.
