Page 68 - Annual Review - Year Ended 31 July 2023

The College delivered an excellent £0 9m EBITDA for the year including £0 25m of concession and donation support from The Malvernian Society
Financial Review | Treasurer’s Report
Following so much upheaval in in in the the sector during the the two COVID years (2019-20 and and 2020-21) and and a a a a a volatile economic climate following the the beginning of the the Russia Ukraine conflict together with the the rapid increase in in in inflation culminating in in in in in a a a a 12 month CPI rate of 6 8% in in in in in July it has been most encouraging to see the College post a a a a resilient financial performance fin in 2022-23 The Malvern College Group overall deficit increased from £0 1m to £1 2m (not including the introduction of TDM assets accounted for as as a a a a a a donation) largely due to the ongoing losses at Abberley Hall The College itself delivered an excellent £0 9m EBITDA for the year including £0 25m of concession and donation support from The Malvernian Society
Malvern College College Enterprises and College College Guardians collectively delivered a solid £0 6m net contribution with strong demand across their services The Malvern College International Schools business delivered an an outstanding £1 6m of net contribution to the Corporation as we see continued enrolment growth It was a a a a a a sad year for Abberley Hall The impact of the economic environment significantly increased the the underlying cost base the the prep school market was challenging and the financial impacts of of both of of these have occurred in the the the context of the the the very real threat of VAT being applied to Independent School 68
MALVERN COLLEGE (INCORPORATED UNDER ROYAL CHARTER)