TIDMMLVN

RNS Number : 8737A

Malvern International PLC

30 May 2023

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR

30 May 2023

MALVERN INTERNATIONAL PLC

("Malvern", the "Company" or the "Group")

Trading update

Malvern International plc (AIM: MLVN), the global learning and skills development partner, is pleased to provide a trading update ahead of the Annual General Meeting being held later today.

University Pathways

The student intake for pathways in September 2023 is expected to be well ahead of the September 2022 intake (c.245 students) and management's budget, based on deposits. This is the result of the Company's strategic investment over the last two years in sales and marketing, management team and processes within our University Partnerships structure. South Asia continues to be the biggest contributor of university pathway students.

English Language Training ("ELT") and Juniors

Based on the current booking levels, student intake for the Language In Action junior programmes in 2023, is expected to be in excess of 2,000 (2022: 976 students). As a result, 2023 revenue from the Junior division is expected to be in excess of GBP3m (2022: cGBP1.35m). The bulk of Juniors revenue is recognised in the second half of the year (July and August). The Board see this as an excellent result and further proof that the industry is rebounding since COVID-19. The Board also believe this is a result of the Company capturing market share on the back of Language In Action's excellent British Council Accreditation report in 2022.

Revenues for the ELT programmes by the end of April 2023 had exceeded the first six months of 2022 (GBP1.1m). The Company is entering a key booking period for Summer 2023, when the bulk of ELT students travel and study. Malvern works with the biggest agencies in Brazil, Saudi Arabia, Kuwait and Italy and expects to see continued growth 2023.

The Board is confident for Malvern's prospects and expects to achieve growth in all divisions in 2023.

www.malverninternational.com .

 
 For further information please contact: 
 Malvern International Plc                   www.malverninternational.com 
 Mark Elliott - Chairman                                  Via our website 
 Richard Mace - Chief Executive Officer 
 WH Ireland (NOMAD & Broker)                          www.whirelandcb.com 
 Mike Coe / Sarah Mather                                    0207 220 1666

Notes to Editors:

Malvern International is a learning and language skills development partner, offering international students essential academic and English language skills, cultural experiences and the support they need to thrive in their academic studies, daily life and career development.

University Pathways - on and off-campus university pathway programmes helping students progress to a range of universities, as well as in-sessional and pre-sessional courses.

Malvern House Schools - British Council accredited English Language Training at English UK registered schools in London, Brighton and Manchester.

Malvern Online Academy - British Council accredited online school, offering supported tuition to students from around the world in English language, higher education, and professional education.

Juniors and summer camps - fully-immersive summer residential English language camps and bespoke group programmes for 13 to 18 year olds.

    For further investor information go to    www.malverninternational.com  .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTNKABBABKDPPB

(END) Dow Jones Newswires

May 30, 2023 02:00 ET (06:00 GMT)

Malvern (AQSE:MLVN.GB)
Historical Stock Chart
From Dec 2024 to Jan 2025 Click Here for more Malvern Charts.
Malvern (AQSE:MLVN.GB)
Historical Stock Chart
From Jan 2024 to Jan 2025 Click Here for more Malvern Charts.