Wey Education (WEY)

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11.90p
   
  • Change Today:
      0.55p
  • 52 Week High: 12.85p
  • 52 Week Low: 5.13p
  • Currency: UK Pounds
  • Shares Issued: 137.39m
  • Volume: 194,680
  • Market Cap: £16.35m
  • RiskGrade: 218

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Wey Education quietly confident about year ahead

By Iain Gilbert

Date: Monday 29 Oct 2018

LONDON (ShareCast) - (Sharecast News) - Wey Education swung to an annual loss as improved revenues were offset by mounting investment in further growth.
Revenue surged 73% to £4.2m during the year to 31 August, with growth in the core business and just over £1m from the December acquisition of Academy 21.

Adjusted EBITDA was up 162% to £452,569, but the educational services outfit turned in pre-tax losses of £229,909 compared to the profit of £17,574 a year earlier. Adjusted earnings per share almost doubled to 0.33p.

Wey, which has integrated Academy 21 into the group after acquiring the online educational business for a price that could rise to £3.2m last December, spent much of the year paving the way for its further growth, leading to higher than initially expected outgoings in particular areas.

Executive chairman David Massie, said: "Wey had an excellent year in terms of turnover growth, technical implementation and the acquisition of Academy 21. With substantial cash resources of over £4m, we are well placed for further significant growth in the current year and beyond."

Cash balances were boosted by a £5m fundraising late last year.

"In setting our budget for this year the board has taken a prudent approach to the timing of overseas expansion and expects to hit its core targets primarily through organic growth," Massie added.

Initial trading in the new financial year has seen sales activity in the Interhigh and B2B divisions "materially ahead" of the equivalent position at this time last year.

Sales targets have set a course for significant expansion but the board has "decided to be very prudent in relation to the pace at which it assumes its overseas sales will grow", pencilling in a continuation of the 66% average growth turnover in the last three years. "The board's ambition is to maintain that trend in the current year and beyond, and any acceleration in overseas development should enhance this figure further."

As of 0840 BST, Wey shares had climbed 4.32% to 12.68p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Wey Education Market Data

Currency UK Pounds
Share Price 11.90p
Change Today 0.55p
% Change 4.85 %
52 Week High 12.85p
52 Week Low 5.13p
Volume 194,680
Shares Issued 137.39m
Market Cap £16.35m
RiskGrade 218

Wey Education Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
86.75% below the market average86.75% below the market average86.75% below the market average86.75% below the market average86.75% below the market average
66.39% below the sector average66.39% below the sector average66.39% below the sector average66.39% below the sector average66.39% below the sector average
Price Trend
18.69% above the market average18.69% above the market average18.69% above the market average18.69% above the market average18.69% above the market average
2.40% above the sector average2.40% above the sector average2.40% above the sector average2.40% above the sector average2.40% above the sector average
Income Not Available
Growth
82.85% above the market average82.85% above the market average82.85% above the market average82.85% above the market average82.85% above the market average
93.10% above the sector average93.10% above the sector average93.10% above the sector average93.10% above the sector average93.10% above the sector average

Wey Education Dividends

No dividends found

Trades for 13-Dec-2019

Time Volume / Share Price
16:17 84,629 @ 12.40p
14:58 100,000 @ 12.00p
15:56 5,568 @ 11.89p
13:15 19,612 @ 11.87p
11:47 3,000 @ 11.80p

Wey Education Key Personnel

Chair Barrie Whipp
CEO Jacqueline Daniell

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