Wey Education sinks as Chinese expansion delayed
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Shares in AIM-listed Wey Education (LON:WEY) dropped by 5.33% to 14.20p (as of 12:45 BST) after it announced that its planned Chinese joint venture was behind schedule due to delays to necessary documentation.
Management said that this should not have any material effect on revenues or costs in the current year, which they stated had started well. The company is hoping to drive growth in its online education and B2B divisions which they report are trading significantly ahead of the same point in the prior year.
Results for the year ended 31st August will be published at the end of this month.
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