Chloe Shakesby

London online education company top of the class with 30 per cent growth

An online education services group has announced that it expects to see growth of 30 per cent for this financial year.

Wey Education, which is based in London, said that trading has been “very positive”, and that it predicts that its turnover will be more than £8m this year.

Its profit before tax has also improved, jumping from a £0.6m loss last year to a profit of £0.5m this year.

The company said that it has made a number of “significant” investments in the current year, including increased spend on marketing initiatives in the second half, and intends to continue this investment in order to deliver growth in the coming years.

Barrie Whipp, chairman of Wey Education,, commented “Performance across the group has remained strong and we have continued to invest in education quality and marketing.

“We expect to exceed market forecasts for profitability and the excess would have been higher had we not continued to invest now for future growth.

“The task at hand is to continue with our investment programme in order to ensure that we take advantage of Wey’s prominent position in the online education sector, which is more relevant now than at any time in the company’s history.”

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