Share Name Share Symbol Market Type Share ISIN Share Description
Wey Education LSE:WEY London Ordinary Share GB00B54NKM12 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 17.00p 16.00p 18.00p 17.45p 17.00p 17.45p 0 08:00:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 2.4 0.0 0.0 850.0 21.54

Wey Education Share Discussion Threads

Showing 1976 to 1998 of 2000 messages
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DateSubjectAuthorDiscuss
22/5/2018
13:47
British Education getting cheap compared to Dollar Quoted education: HTTPS://xe.com/currencycharts/?from=GBP&to=USD&view=1Y WEY could be a BIG WINNER due to the weak pound. All the raw materials are from UK (teachers and support staff) - so costs no higher but money coming into the company (via bigger sales) could be significantly higher. Compared to Christmas customers currently save £250 a year in cheaper school fees if paying in dollars . Here is a link showing how currency fluctions affected demand for education in 2015 (pre brexit currency - so one assumes the post brexit currency crash will be driving up demand for UK education) HTTP://monitor.icef.com/2015/12/the-relationship-between-currency-exchange-and-student-mobility/
netcurtains
22/5/2018
13:00
"if" WEY meets its own expectations in the coming results I would expect there would be a reasonable chance that this share will be trading in the 30s 40s range. It has been well over sold . I have put my money where my mouth is. I bought more today
netcurtains
20/5/2018
22:20
Should add that they are now forecasting a maiden dividend of 1.8p per share in 2020 (up from 0.48p in the previous forecast).
mcfly79
20/5/2018
22:17
net, I think the figures are better than that. WEY currently pays the teachers about 50% of the school fees and are left with a 50% gross margin. In the investor event before last David said they were targeting a 55% gross margin with 20% admin costs leaving 35% EBITDA margin. It's actually a fairly high margin business at scale. We're starting to see this in 2018/19. WHIreland were previously forecasting a 54% gross margin and 24% EBITDA margin (Sales of £10.34m, gross profit of £5.62m and EBITDA of £2.61m). They are now forecasting slightly lower sales (£9.6m) but a higher EBITDA margin of 27% giving an unchanged EBITDA forecast of £2.61m. David also mentioned that with AI the gross margin could go up longer term to 75% leaving a 55% EBITDA margin after the 20% admin costs. bones, revised WHIreland forecasts as follows, only the revenue has changed from the previous forecast: 2018 (est): Rev 4.1: Pre-tax Profit 0.48; EPS 0.39 2019 (est) Rev 9.6: Pre-tax Profit 2.53; EPS 1.86 2020 (est) Rev 15.2: Pre-tax Profit 5.41; EPS 3.63
mcfly79
20/5/2018
22:17
Aeg ready to fly!Massive RNS!!Sorry wrong board!
costax1654x
20/5/2018
21:52
Header updated for latest major shareholders (per WEY website), interim results summary and "DirectorsTalk" videos. It would be useful if those with access can give me the latest WH Ireland broker forecasts so I can update those. Thanks in advance (Verulamium or other!)
bones
20/5/2018
19:04
Hi njl53: WEY education has class sizes of max 18 pupils for gcse and 15 pupil for A levels. Its on their website - eg the advantage of Interhigh is that it has SMALL class sizes compared to bricks and mortar schools: HTTPS://interhigh.co.uk/5-advantages-of-online-schooling/ I think WEY make 15% profit per teacher so , if they had 2,000 pupils they would make about £1M profit (added to this they have the B2B side )
netcurtains
20/5/2018
18:47
Does anyone know how many pupils can be handled online in the same worldwide class by the one teacher? I presume there is a finite limit to a class size as homework has to be marked and pupils dealt with individually. Also, how difficult is it to maintain quality control of teaching as the numbers of individual teachers and classes multiplies?
njl53
17/5/2018
09:37
This webinar may be of interest to investors here as part of ongoing research. Its not spam, I'm not connected. It was a direct email to me and I am simply sharing it, not endorsing it. Join Maria English, Marketing and Admissions Officer at Western International School of Shanghai on 24 May 2018 as she discusses best practices when introducing school curriculum to Chinese families. Maria has worked within China admissions for over a decade and has conducted independent surveys regarding this topic. Her findings, which may surprise you, have been published in the IAB magazine. This webinar session will help answer the question: How effectively are we communicating our curriculum to Chinese families? hTTps://register.gotowebinar.com/register/6993243987402994434 G.
garth
16/5/2018
16:38
Nice posting McFly79 ...1047. I feel the same as net after reading. Best of luck with your substantial investment.
666james
16/5/2018
15:58
share price quite sensitive to news - even if news tiny. As WEY tweeted this (see below) the price bounced north a bit: "A good day at #COBIS18 see you tomorrow"
netcurtains
16/5/2018
15:54
Agreed net, Nigeria could be a large market. What’s great about the Chinese deal is that it’s initially with state schools. I believe the JV will look to gain the equivalent of preferred vendor status with local Chinese authorities which will allow schools to sign up for the JV’s offering. This would give the JV real scale - with schools signing up for the services (plus follow on private referrals for students).
mcfly79
16/5/2018
15:15
Myfly79: Could also make an equally good case for Nigerian growth: lots of middle class students (no one child policy), more dangerous country so more middle class tempted to educate at home and to top it all Nigerians are miles more internet savvie then we are in the UK(as Mr Massie pointed out back in summer of 2017).
netcurtains
16/5/2018
14:41
If the Chinese JV goes to plan then that's certainly where I'd want the company to be spending the cash if there was an opportunity to accelerate things. The numbers involved are just so much larger than the UK.
mcfly79
16/5/2018
14:36
Good post microscope. Agree that they will need to prove that they can scale the UK business. It will be interesting to see how they deploy their cash. They have a huge amount of cash at their disposal (for a company of their size) and that could be used to scale the UK business more quickly. They had £4.3m as at 28 Feb 2018 having only spent a relatively modest amount in the first half (£143k was spend on additional marketing and startup costs). It seems they are taking their time while they figure out the most effective marketing strategy. Despite the £143k additional spend the company was cash neutral in the first half with an operating cash outflow of £12k. WHIreland have retained their year end cash forecast of £3.5m suggesting we will see more significant investment in marketing in the second half. The 18/19 forecast is for cash to increase by 2.2m to £5.7m. This suggest £3.5m may be the low point for the cash balance. This suggests there is the opportunity for WEY to be really aggressive on marketing if they wish. Perhaps David Massie wants to keep a cash pile in case there is an opportunity to accelerate Chinese plans.
mcfly79
16/5/2018
13:41
Excellent read McFly, well done. A cogent bull case indeed! The opportunity both domestically, and more particularly in China over the medium term, looks very strong. I think the shorter term challenge is something we discussed on here a while ago, and that is to scale the domestic business meantime. That's the real reason why people aren't happy in my book. Advertising and other costs people understand and, largely, accept, whether listed as one off or not. They have this potentially disruptive first mover advantage, but have yet to convince the market that they have the wherewithal to exploit it. For me that will be the big test at next results. Net made the excellent point that the key recruitment months fall in this half, and that will provide the required evidence as to where they are going, until China and Nigeria come on stream. I remain confident, though cautiously so, that they will achieve their goals
microscope
16/5/2018
13:36
Mcfly79: great positive post. Thanks - cheered me up!
netcurtains
16/5/2018
12:42
I’m grateful for the opportunity to have built a position at these prices since the results announcement, including some more today to take me to just shy of 500k shares. Tempted to add even more but will wait for now. I like the long term prospects for the sector and see WEY as establishing itself as the dominant UK player. I appreciate people are unhappy with the turnover growth of Interhigh being lower than previously forecast and the reporting of marketing costs as exceptional. The company raised funds to invest in building the business and will continue to do so. This will result in setup and marketing costs in the short term. The company has chosen to strip those costs out in reporting adjusted earnings. Clearly there will be a degree of subjectivity around to what extent these costs are exceptional. There’s clearly a feeling by investors that Interhigh revenue may not climb as quickly as previously forecast. Only time will time. Next year (2018/19) the growth is mostly about the B2B business (both in the UK and abroad). WHIreland are forecasting Wey ecademy sales (including A21) to climb from £1.3m this year to £3.5m next year and the first Chinese revenue will start next year. Revised WHIreland forecast for next year are for revenue of £9.6m and adjusted profit of £2.5m. Perhaps more importantly they are forecasting a £2.2m increase in net cash (from £3.5m to £5.7m). Cash figure are obviously after all costs (exceptional or otherwise). Clearly if they achieve this the current share price will look far too low. As I type the enterprise value of WEY is c.£16m so that would be a cash flow multiple of 7-8. There is a lot to achieve to get to those figures for next year but what I’m really invested for are the medium term international opportunities, especially China. China’s online education market is growing rapidly. From 156bn Yuan (£18bn) in 2016 to a forecast 543bn Yuan (£63bn) in 2022. hxxp://www.iresearchchina.com/content/details7_40642.html The success of VIPKID shows the huge market in China for online lessons with native English speakers. After just 4 years from incorporation they were forecasting $750m in sales for 2017. The majority of VIPKID’s sales is from one to one private lessons for young children in China (age 4-12) with ‘teachers̵7; in North America. You don’t need to be a qualified teacher to work for VIPKID (you just need some experience in teaching, mentoring, tutoring etc). WEY are looking to tap into the same demand for native English teaching. What WEY can offer is a UK based qualified teacher, very attractive to the Chinese audience. In contrast to VIPKID, WEY are initially targeting the state sector (with follow up private referrals). As I understand it, English is generally part of the school curriculum in China but with a focus on reading and writing. It’s recognised that speaking is a weak point for students and hence the demand for lessons with native English speakers. The establishment of the JV will be a huge step. WEY will be partnered with a listed Chinese company who already sell their products into schools across China and have a good knowledge of the market the JV is looking to target. I’ve worked a little bit with Chinese companies and I know that some investors have reservations. Why it works so well for VIPKID, and will work for WEY, is that the English speaking teachers are the key commodity in the arrangement. The Chinese company needs WEY’s teachers and expertise as much as WEY needs the Chinese company. If anyone knows of any other company that is better placed than WEY to tap into the Chinese demand for native English speakers (and replicate some of the success of VIPKID) please let me know. Certainly there are bigger providers of online educational services and certainly there are bigger bricks and mortar education providers in the UK but WEY is the largest online school in the UK with experience of offering formal teaching online. VIPKID has sold itself as offering a US elementary school education experience to the Chinese and I think WEY is best placed to do the same thing with UK teachers. WEY is also 2 years down the line in progressing a Chinese deal to get it to this stage. Any comments, positive or negative most welcome.
mcfly79
16/5/2018
08:43
well it couldn't have got much lower - lol - so one assumes people will now give it a second look. Yes numbers will not grow as fast as first thought, but B2B numbers will probably grow much faster.... Early doors - need another RNS to work on - need more figures on B2B.
netcurtains
16/5/2018
08:00
Net ...I really hope so.
666james
16/5/2018
07:15
Sentiment on the mend
netcurtains
15/5/2018
11:29
Well if the new Finance director thinks 1.5 million shares at option price 16.5 (and cant buy them for 3 years) is a good incentive I think I can reasonably say he can see a medium term "hockey stick" share price (over three years).... I think that is how I see it. It takes a year or two to get traction ....
netcurtains
15/5/2018
10:48
Thanks Micro. Looks like Cantors are the aggressive selling MM on level 2. Guessing they have Miton's supply to unload?
bones
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