Half year report29 Dec 2020 23:20
Reminder from half year
Covid-19 has necessitated the accelerated development of Malvern Online Academy (MOA), due to the period of closure of our schools during lockdown. MOA continues to provide students language training and professional courses and has become, more than ever, an accepted teaching channel. At a minimum, MOA provides the Company with an insurance should further Covid-19 restrictions be applied, that enables the transfer of all students to remote learning under our standard terms. We believe that, with the right positioning and product offerings, MOA has the potential to become an important division within Malvern's portfolio in the long term in its own right, as well as supporting in-class learning and offering remote follow on courses for students that have completed their studies in one of our schools.
While the long-term education market fundamentals remain unchanged and current bookings are encouraging, the continuing effects of Covid-19 dictate it is appropriate that we remain cautious in our outlook, whilst continuing to invest in and grow the existing business."