The trading update, which comes before full interim results, tracks the company’s performance for the six months to June 30 2018. It declares the firm has performed “in line with management’s expectations”.
“It also marks another step in Malvern’s goal to be a global learning partner”
The company said revenues are improved by 50% on the same time period in 2017, with losses before interest and tax reportedly stemmed by 35%.
In a statement, Malvern International also noted that “deferred income is significantly higher than the equivalent period in 2017,” leaving the Board of Directors satisfied that end-of-year expectations will be met.
Despite falling revenue in Malaysia, the company is undeterred saying the market “is showing signs of stabilisation” due to investment and new plans for programs and enrolment strategy.
Revenues have also been boosted by the acquisition of SAA Global Education in Singapore, which was secured before the more recent – smaller – acquisition of the Communicate School.
Along with the trading update, Malvern International has announced that SAA-GE will partner with the London School of Accounting and Finance Jakarta.
The partnership with the Indonesian campus will allow students studying Association of Chartered Certified Accountants qualifications in Singapore or Jakarta the option of mobility.
Further to the dual city option, students from SAA-GE’s other locations which include London and Malaysia will be able to study the master’s in professional accountancy in Singapore. This degree is awarded by the University of London, but taught by SAA-GE.
Sam Malafeh, Malvern International’s CEO, said this new partnership strengthened the ASEAN regional economy as well as the company.
“We are delighted… This partnership will help Indonesia to develop the accounting profession, support and open global career opportunities for ACCA students in Indonesia, especially in the era of the ASEAN Economic Community where the demand for professional accountants is abundant,” he said.
“It also marks another step in Malvern’s goal to be a global learning partner and of making education more accessible for learners around the world,” his statement added.