11 June 2010 – final results
Strong growth has been reported by educational group AEC Education in the year to 31 December. Revenues more than doubled to £14.0m and pre-tax profit rose by 36% to almost £1.1m. Earnings per share fell to 2.5p from 3.1p due to a large increase in the number of shares in issue. Net cash at the year end was £3.2m (2009: £1.9m) with share placings during the year raising a total of £2.1m. These were excellent results for the group with the acquisition of Malvern House last summer being a significant milestone for the group. With further progress now expected going forward the shares are a BUY.