London online education firm top of the class with 38% turnover increase

An online education company has reported that its turnover increased by nearly 40 per cent following “significant growth”.

Wey Education, based in London, saw turnover increase by 38 per cent this year, growing from £6m to £8.4m.

The company said that this is due to an upswing in student enrolment numbers as the country adapts to social distancing guidelines.

Wey also saw its profit before tax more than double, jumping from a £693k loss before tax in 2019 to a profit of £500k.

Barrie Whipp, chairman of Wey Education, said: “Wey is now firmly established as a leader in online education.

“The directors believe that Wey provides a unique, synchronous experience for our ever-increasing number of learners.

“Our expanded leadership team is allowing us to enhance the quality of our education provision, technology and individual learner experience.

“Our marketing focus is allowing us to expand our reach in a marketplace more ready for our services than ever before.

“We are very pleased with the company’s performance and determined to continue to press our opportunities further.”