Malvern International PLC - London-based learning and skills development company - Posts revenue of GBP6.5 million for 2022, up significantly from GBP2.4 million in 2021. Says revenue in English language training centres "bounced back during summer months ahead of pre-pandemic levels". Pretax loss narrows to GBP1.1 million from GBP1.6 million a year earlier, as operating loss narrows to GBP788,747 from GBP1.3 million a year earlier. Loss per share is 4.95 pence, compared to 8.49p in 2021. Looking ahead, says its forward bookings and revenue visibility for the start of 2023 makes the company confident in longer-term prospects.
Chief Executive Officer Richard Mace says: "Student numbers continued to rebuild throughout 2022 as limitations on international travel eased. English Language Training bounced back in 2022 with three centres posting revenues ahead of the pre-pandemic period during the busy summer months."
Current stock price: 13.00 pence each, up 4.0% on Thursday morning in London
12-month change: down 99%
By Xindi Wei, Alliance News reporter
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Malvern Intl (MLVN)