Malvern International plc (AIM: MLVN), the global learning and skills development partner, is pleased to provide a trading update for the six months ended 30 June 2018 ahead of announcing its interim results.
Group performance has been in line with management’s expectations with revenues from continuing operations being over 50% better than the equivalent period in 2017 and EBITDA losses reduced by approximately 35%.
Going into the second half, the existing bookings indicate a very positive expected performance during the second half of 2018, which reflects the historical weighting due to the seasonality of the business. Deferred income, which will be recognised as revenue during the second half as the service is delivered, is significantly higher than the equivalent period in 2017. As a result, the Board is confident of meeting expectations for the year as a whole.