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AEC Education

  • BY: Andrew Hore |
  • POSTED: 01/08/2013 |

AEC Education says that its London operation has returned to profit in the first half of 2013 but the group is unlikely to do better than breakeven in 2013.

The other European operations have also moved into profit and all of these businesses should continue to be profitable in the second half. The Malaysian business is also progressing.

The Singapore business has performed poorly because enrolment in the MBA programme has been stopped while English language standards are reassessed. Revenues are down and Singapore will lose £450,000 in the first half.

At 4.25p a share, AEC is valued at £1.88m. Net cash was £2.71m at the end of 2012.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJuly2013_46.pdf

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