(Alliance News) - Dev Clever Holding PLC on Monday reported that it expects annual profit and revenue to be ahead of previous guidance.
The online career guidance and development platform said it now expects to report revenue of around GBP7.4 million for the year ended October 31. This is a significant increase from GBP1.2 million posted in the previous year.
The expected figure includes GBP3.6 million for the first phase of its partnership with Aldebaron DMCC, a Dubai-based company dealing with consumer-facing technology.
Dev Clever's adjusted earnings before interest, taxes, depreciation, and amortisation are expected to be "materially ahead" of prior internal expectations.
Operational progress was made in India, the UK, and Dubai through its partnerships with Veative Laboratories, the National Independent Schools Alliance, Aldebaron, and the CSC Academy, the company explained.
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.
Shares in Dev Clever were down 2.9% at 31.08 pence on Monday in London.
By Heather Rydings; heatherrydings@alliancenews.com
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