Malvern International PLC (AIM:MLVN) rose 5% after the UK education group announced revenues this year would be up 79% to £11.3 million.
The AIM-listed group is also expected to post an underlying profit of £300,000.
Cash of £2.2 million is also better than expected due to £1 million late invoicing of summer accommodation costs for Juniors, with unaudited net debt down to £2.6m (FY22: £4.4m).
Second-half revenue rose from £4.2m in 2022 to around £7.3m in 2023, Malvern announced.
“Following exceptional entry numbers for the 2023/24 academic year, early bookings for the 2024/25 are expected to soften following changes in UK government immigration rules,“ Malvern added.
Shares rose 1.25p to 36.25p.