AEC Education gets an A*

Educational programmes provider and exams setter AEC Education went to the top of the class on Friday after raising its profits guidance for 2011.

The group reported a "very strong finish to the year" in Singapore and said it believes profit before tax for the year ended December 31st will be ahead of current market expectations on revenues of £19m.

The house broker, WH Ireland, has revised its adjusted pre-tax profit for 2011 accordingly, to £0.5m from £0.3m.

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AEC's net cash position at the end of 2011 was £3.7m. One-off costs for the year are expected to total around £0.53m.

The firm also announced the acquisition of training provider, Skye Training for an initial consideration of £0.1m in cash. Skye is said to have "significant growth potential". WH Ireland said the acquisitoon should give a slight boost to earnings per share this year.

The shares rose 3.75p to 12p on the announcements.