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LONDON (Alliance News) - Malvern International PLC said on Thursday trading has been in line with expectations, with the company confident in meeting full-year expectations.
Separately, the education company on Thursday said Sabin Joshi resigned as a non-executive director on Tuesday.
Malvern said its performance has been in line with management expectations over the first half of 2018, with revenue from continuing operations up more than 50% on last year, and its earnings before interest, tax, depreciation and amortisation loss narrowed.
"Going into the second half, the existing bookings indicate a very positive expected performance during the second half of 2018, which reflects the historical weighting due to the seasonality of the business," said Malvern.
Deferred income - which will be recognised as revenue during the second half as the service is delivered - is expected to be significantly higher than last year.
As a result, Malvern said it is confident in meeting expectations for the year as a whole.
By location, London in the first half continued to show an improved performance, delivering revenue "close to" GBP1 million and a "small" profit. Signore performed well, with revenue also close to GBP1 million.
Revenue in Malaysia, despite being around 30% lower than last year, is showing "signs of stabilisation".
Malvern expected to announce its interim results on September 13.
Shares in the company were down 1.0% at 6,8801 pence on Thursday.
