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Education Development International
- BY: Andrew Hore |
- POSTED: 21/08/2007 |
Education Development International says that its full year results will be better than expected.
The second half is normally the strongest because it includes the peak exam season. July was a particularly strong month. Two recent acquisitions, eNVQ and Fusion Media Networks, have made bigger contributions than expected. Increased operating efficiencies and delays in taking on extra staff mean that margins improved in July.
August and September are unpredictable months for an education business but EDI is on course to “significantly exceed” market expectations for the year to September 2007. At 26.75p, the shares are trading on less than nine times the original forecast earnings of 3.14p a share. In reality, the rating will be less than that.
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