Shares in the educational services provider in the UK, Europe and Asia jumped 38% at 3.80 pence on Monday.

Revenue for the second half to the end of December is expected to be GBP2.4 million, up 25% from GBP1.9 million for the same period the year before, with losses to narrow to GBP200,000 from GBP900,000, despite restructuring and investment costs.

Pretax loss for the 2017 is expected to narrow to GBP600,000 from GBP1.3 million, and revenue is expected to total GBP4.0 million, in-line with the year before.

Malvern International said that student numbers were running ahead of last year, with the London school showing record sales with the expectation of breaking even for the year.