StockMarketWire.com - Education company Malvern International reported a £0.44 million first-half loss before tax on a like-for-like basis as its business was hit by school closures.

In the first six months of 2020, like-for-like revenue fell by 30% to £1.37 million, compared to revenue of £1.94 million in the first half of 2019.

The company also registered a £0.32 million loss from its Singapore operations, which are being wound down.

During the period Malvern restructured its financing facilities and raised £1.15 million. Of this, £100,000 was used to pay creditors.

Despite the headwinds, the company said market fundamentals 'remain sound, and near and medium-term bookings are encouraging'.


At 9:00am: [LON:MLVN] Malvern International Plc Ord 5p share price was +0.03p at 0.14p



Story provided by StockMarketWire.com