AEC Education – 8.5p

15 January 2013 – trading update

The group has issued a disappointing trading update confirming that revenues for the year to 31 December will be below last year but that the loss before tax will be worse than previously expected.  Although the group’s Asian operations have performed well, reporting a 16% increase in revenues, the UK operations continue to suffer from weak demand from overseas students for English language teaching programmes in the UK after Government changes to overseas student visas.  However, the group retains a strong balance sheet and longer term prospects remain promising.  Although this news is disappointing the shares remain a BUY.

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