WEY’s results this morning describe a year in which the company decided to terminate overseas joint ventures and non-core activities, paying a price for this in exceptional costs, but then went on to surprise on the upside, exceeding our £95k PBTA forecast by a factor of three (and outperforming substantially on cash). With a partial contribution from Academy 21 in the prior year, underlying revenue growth was strong at 36%, mainly on the back of new student wins – combined with steadily rising ....
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Morning Comment
- Published:
11 Nov 2019 -
Author:
Nick Spoliar -
Pages:
3
WEY’s results this morning describe a year in which the company decided to terminate overseas joint ventures and non-core activities, paying a price for this in exceptional costs, but then went on to surprise on the upside, exceeding our £95k PBTA forecast by a factor of three (and outperforming substantially on cash). With a partial contribution from Academy 21 in the prior year, underlying revenue growth was strong at 36%, mainly on the back of new student wins – combined with steadily rising ....