Malvern International plc
Malvern International Plc is a UK-based global education provider operating two divisions: Higher Education/University Pathways (international student recruitment, admissions, pre-degree foundation and pathway programmes delivered in partnership with UK universities) and English Language Teaching (short-term Junior English-language summer camps/young learner programmes, trading as Language in Action, plus a legacy Adult ELT business that was exited in February 2026). The Group changed its financial year-end from 31 December to 30 September during the period, so this report covers a nine-month transition period to 30 September 2025.
FY2025 in sixty seconds
year to 30 Sept 2025 · approved 2 Mar 2026 · 84 pages · Companies House
Malvern International Plc recruits international students and runs university preparation courses and junior English summer camps. It changed its year-end, so this report covers nine months to 30 September 2025, compared with the full twelve months of 2024. Revenue was £15.3m against £16.6m, and the loss before tax widened to £1.3m from £145k.
The bigger loss came mainly from a one-off write-off of £1,419,350. This was the value previously placed on its Manchester English school, written off after the decision to close its loss-making adult English schools. Before one-off items, operating profit rose to £381k from £224k, helped by university courses and junior camps.
Cash at the period end was £1.9m and borrowings were £1.4m. The company's liabilities exceed its assets. No dividend was proposed. In March 2026 it raised £1.95m from shareholders, after costs. Management expects an operating loss in the year to September 2026 while it invests, with a return to profit in 2027. The accounts are prepared on the basis that the business will keep going, its lender has promised support for at least 12 months, and the auditor's opinion was not qualified.
University Pathway partnerships (student numbers and new long-term contracts)
Three new long-term university partnership contracts (Wolverhampton, Cumbria, Liverpool Hope) plus a post-period 15-year London Metropolitan University contract; Pathways student numbers increased 28.8% in 2024/25 academic year
page 10Growth in Higher Education and Juniors offsetting Adult ELT decline
Underlying operating profit improved to £0.38m (FY2024: £0.22m) driven by Higher Education and Juniors
page 1FY2026 is expected to be a period of preparation and investment, as the Group positions itself for accelerated growth in subsequent years; FY2026 is expected to be loss-making at the operating level, with the Group returning to profitability in FY2027
page 11The Directors do not recommend a dividend for the period (FY2024: nil); shareholder value aim is via capital gain and, in time, dividends
page 3411 years on one page · FY2015–FY2025
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GBP millions, negatives in brackets. Per-share lines in pence. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
20 figures restated in a later report
Every figure is read again from the following year’s report: 332 confirmed, 12 differ, 20 restated.
No figure has been restated: every figure a later report printed again, it printed the same.
20 more figures were restated in FY2015 to FY2022, which a free account opens.