A group of colleges in Kent has been honoured for transforming from a financial disaster to expanding company.

Hadlow Group was named top public sector company at the The Institute Of Fiscal Turnaround Awards at London’s Landmark Hotel last Thursday.

It was given the prize for successes including the acquisition of West Kent College and Ashford College, the development of its Betteshanger Sustainable Parks scheme and acheiving an outstanding Ofsted rating less than 10 years after being rated unsatisfactory.

It is a stark picture to the series of disasters which befell the college in the late 1990s and early 2000s.

Its reputation was damaged when a student was brutally murdered on campus by two other students in 1998. Shortly afterwards, its executive team was accused of corruption and mismanagement.

By 2002, its finances were in a shocking state, with annual turnover of just £5 million and losses approaching £500,000.

Its turnaround has been driven by a robust revenue strategy, splitting income in thirds between further education, higher education and commercial activities.

Principal and chief executive Paul Hannan said: “We are thrilled. This could not have been achieved without the dedication and commitment of the staff who are always prepared to go extra miles.

“We are immensely proud of having the privilege of leading projects that are resulting in so many social and economic benefits.”

Deputy chief executive Mark Lumsdon-Taylor, who picked up the award, added: “The Hadlow Group has undergone an impressive transformation from a small £3m land-based college into a £50m fully commercial and student and business focused educational group.

“The staff are the engine room of this organisation and the impact they have on every single student and business we engage with is inspirational.

“We are delighted the key role played by further education colleges is championed at the highest level. We are more than educators, we are agents for economic and social regeneration.”