StockMarketWire.com - Global learning and skills development partner Malvern International said the increase in revenues anticipated in the second half of the year has not been 'as strong as expected', despite revenue in the first half slightly ahead of expectations.

In an update on trading for its year ending 31 December 2019, Malvern confirmed full-year revenues are now expected to be modestly ahead year-on-year, with a bigger increase if the Malaysian operation is excluded.

The company reported revenue in Malaysia has continued to be below expectations and the board is now actively seeking a buyer for this is business.

It said a number of other factors have also hit revenues in the second half of the year.

'Forward bookings for the university courses have been affected by the late and unexpected delay in the approval process which has resulted in enrolments for the academic year being below expectations,' Malvern said.

Trading at its London operation has not been in line with expectations, due to reduced bookings from Europe and South America, but Malvern said bookings for 2020 from these regions are now improving. Story provided by StockMarketWire.com