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Malvern International sees enquiries and bookings pick up at its language schools

Published: 08:07 08 Oct 2020 BST

Malvern International PLC -

Malvern International PLC (LON:MLVN) said its language schools in London, Manchester and Brighton have now reopened and are following government guidance on coronavirus (COVID-19) lockdown restrictions.

The London and Manchester schools reopened on August 10 and the Brighton school reopened last month, the company said in its results statement for 2019. Around 50 students have enrolled at the centres and enquiries and bookings are starting to pick up.

The governments of the Gulf Cooperation Council countries are now allowing sponsored and self-funded students to travel to the UK, and students are beginning to arrive. Barring unforeseen circumstances, the company is expecting student numbers for the language centres to return to normal levels from summer 2021.

The group added that summer bookings for the Italian cohort for Malvern Juniors, which represents a significant proportion of revenues for the business, have been postponed until 2021.

Bookings from the company's university partner, University of East London are currently ahead of expectations, it added. The two-week English Kickstarter courses for international students went ahead online and began on September 21. The bookings for this course were ahead of budget. The foundation year students have until October 19 to enrol, based on deposits the current indications are that student numbers will be above forecast and are already considerably higher than 2019 figures.

Total revenue from continuing operations in 2019, which at the end of last year included the since closed Singapore operations, rose to £6.51mln from £6.34mln in 2018. UK revenues rose to £4.70mln from £4.38mln the year before.

The loss before tax from UK and Singapore operations in 2019 expanded to £5.70mln from a restated loss of £363,520 in 2019, after the group wrote down the book value of various intangible assets by £2.88mln.

Cash at the end of 2019 stood at £83,264, versus £105,380 at the end of 2018. Cash at bank and in hand as at the end of August 2020 was around £670,000.

“While the board remains cautious in its outlook, the return of students following the easing of travel restrictions is encouraging and demonstrates the underlying demand for the services we offer,” Mark Elliott, the chairman of Malvern said in the results statement.

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