Malvern upbeat on performance and second-half outlook

The AIM-traded firm said that in terms of University Pathways, it was anticipating a substantial surge in student intake for September compared to last year.

With around 245 students enrolled in September 2022, the company's strategic investments in sales and marketing, management and processes within its University Partnerships structure had paid off.

The strong performance was attributed to the continued contribution from south Asia, which remained the largest source of university pathway students.

Additionally, Malvern reported robust booking levels for its ‘Language In Action’ junior programmes in 2023.

It projected an intake of more than 2,000 students - a significant increase from the 976 students enrolled in 2022.

As a result, the company expected the revenue generated by the Junior division in 2023 to surpass £3 million, compared to around £1.35m last year.

Notably, Malvern said the majority of revenue from the Juniors division would be recognised during the second half, specifically in July and August.

“Revenues for the ELT programmes by the end of April had exceeded the first six months of 2022,” the Malvern board said in its statement.

“The company is entering a key booking period for summer 2023, when the bulk of ELT students travel and study.”

Malvern said it worked with “the biggest agencies” in Brazil, Saudi Arabia, Kuwait and Italy, and expected to see continued growth 2023.

“The board is confident in Malvern's prospects and expects to achieve growth in all divisions in 2023.”

At 1622 BST, shares in Malvern International were up 11.76% at 19p.

Reporting by Josh White for Sharecast.com.