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Wey Education expects annual profit to beat market forecasts
StockMarketWire.com
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Online education services group Wey Education said trading in the first four months of its financial year had been 'significantly ahead' of budget and market expectations.
'The company expects to exceed market forecasts in both turnover and profitability for the year ending 31 August 2021,' Wey Education said.
The company also announced that its InterHigh business would charge value-added tax (VAT) to its UK clients, following a group structure and tax review.
'This change will also allow the company to recover VAT on UK expenditure and ensure that future InterHigh profits are distributable,' it said.
'Part of the benefits from current trading will be used to smooth the transition in these charges for existing clients and notwithstanding this and a further targeted increase in marketing expenditure the company expects profit before tax for 2021 to be ahead of market expectations.'
At 9:21am: (LON:WEY) Wey Education Plc Ord 1p share price was 0p at 24p
Story provided by StockMarketWire.com
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