INTERVIEW: Wey Education PLC Joint Venture in China

Wey Education plc (LON:WEY) today publishes its interim results for the six months to 28 February 2018 and reports on a number of important developments within the business.

Chairman David Massie talks to DirectorsTalk about this latest set of results, the new deals in China, how Academy 21 is progressing and a new venture in Nigeria.


· Academy 21 acquisition outperforming expectations

· Establishment of Chinese subsidiary and agreement to establish a Joint Venture in China to
progress English language teaching

· Infinity Education starts delivering first courses

· Agreement reached for Joint Venture in Nigeria to teach both English and Nigerian curriculum online

· Launch of primary curriculum

· Appointment of Executive Director of Human Resources

· Turnover up 44% at £1.74m (2017 – £1.21m) including contribution of £249,000 from Academy 21

· Adjusted profit before tax of £145,000 (2017 – £75,000)

· Adjusted basic EPS 0.12p (2017:0.08p)

· Cash balances healthy at £4.3m

Commenting on the results, David Massie Wey Education PLC (Executive Chairman) said: “This was an exciting period in the Company’s development. Last November’s oversubscribed £5m placing gave the Company the financial resources to implement its medium-term strategy. The results of that process are already beginning to bear fruit. The completion of the Academy 21 acquisition accelerates the Company’s growth in the B2B market and we are very pleased with its development so far. The announcements regarding the joint ventures in China and Nigeria is very significant for the group’s growth as they have the potential to be transformational. Naturally, there is some cost involved in developing these initiatives, but the Company has the necessary financial resources for such, and the Board considers the potential is so great, that the price is one worth paying.”

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Share on facebook
    Share on twitter
    Share on linkedin
    Wey Education plc

    More articles like this

    Wey Education appoints Head of Information Systems

    Wey Education have recently appointed a new key staff member to join the management team. Jacqueline Daniell, CEO of Wey explains “We are delighted that Charles Tomlin has joined the Wey team from Amazon UK. This appointment deeply

    Making Alternative Provision a credible alternative

    The recent launch of The Timpson Review (May 2019) and the DfE’s published report on Permanent and fixed period exclusions in England: 2017 to 2018 (July 25, 2019) shows an increasing focus on exclusions and alternative provision (AP). Jacqueline Daniell, Chief Executive

    The UK’s leading online school

    Established in 2005, InterHigh is a complete interactive Primary School, Secondary School and Sixth Form College. We welcome pupils from across the UK and Internationally. Rather than travelling to school to study – InterHigh comes to you, wherever

    As a pupil, why should I choose InterHigh?

    Take control of your online learning InterHigh is a school that puts you in control. Our online classrooms let you manage how you interact with your peers and you have direct and confidential access to the teacher at

    LBC: Home Education

    Home schooling has reportedly increased by over 40% over the past three years. This surge in popularity can be attributed to a number of factors. Some parents have become increasingly concerned about how their children are coping with