(Alliance News) - Dev Clever Holding PLC on Monday said it expects revenue to soar in its most recently ended financial year.
The online career guidance and development platform is expected to end the year with around GBP7.4 million in revenue, surging from last year's GBP1.2 million.
The expected figure includes an initial recognised amount of GBP3.6 million for the first phase of its partnership collaboration with Aldebaron DMCC, a Dubai-based company dealing with consumer-facing technology.
Dev Clever's adjusted earnings before interest, taxes, depreciation, and amortization are expected to be ahead of management's expectations.
Operational progress was made in India, the UK, and Dubai through its partnership agreements with Veative Laboratories, the National Independent Schools Alliance, Aldebaron, and the CSC Academy.
Progress in North America has been slower as a result of Covid-19 school closures but is expected to uplift as it continues work with Lenovo.
"The group has grown significantly over the last two years, from a solid UK base to a meaningful international hub for innovative e-learning and progressive career development. We are doubling down on our platform, content, people, partner and infrastructure investments to support the scaling of our proprietary EdTech platform globally. The demand for our education services, which are now being offered in person and virtually, emphasised by the pandemic, is clear to see and our focus remains on ensuring we take advantage of the huge opportunity ahead of us," Chief Executive Chris Jeffries said.
Dev Clever ended its financial year with GBP7.5 million in net cash.
Shares in Dev Clever were down 3.1% at 31.00 pence on Monday in London.
By Heather Rydings; heatherrydings@alliancenews.com
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