Malvern International PLC (AIM:MLVN) saw its shares jump over 18% higher on Tuesday morning after the learning and skills development company announced a surge in student intake numbers and revenue, evidence that the industry is bouncing back from the Covid-19 pandemic.
In a trading update, Malvern estimated that its University Pathways programmes will see student intake in September this year “well ahead” of 2022’s intake of around 245 students, driven by investment in sales and marketing and in its management team.
It noted that South Asia remains the biggest contributor of university pathway students.
Revenue for the Juniors division, which offers summer residential English language camps and bespoke group programmes for 13 to 18 year olds, is expected to more than double to over £3mln in 2023 from £1.35mln last year.
Current booking levels show student intake for the company’s ‘Language In Action’ junior programmes exceed 2,000, up from 976 students in 2022.
As it enters its key summer booking period, Malvern said revenues from English Language Training (ELT) programmes by the end of April this year were higher than the £1.1mln achieved in the first half of 2022.
“The board is confident for Malvern's prospects and expects to achieve growth in all divisions in 2023,” the company said.
At 10.10 am, shares were 3p higher at 19.50p.