Wey Education down as it reaches profit

Shares in AIM-listed education business Wey Education (LON:WEY) have dropped 9.89% to 24.78p (as of 15:25 GMT) despite revenues for the year ended 31st August climbing by 38%. The firm booked a pre-tax profit for the period as it saw growth in student numbers as well as improved engagement during Covid-19.

Chairman Barrie Whipp commented: “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“.