Trading Update (9974P)

TIDMILX

RNS Number : 9974P

ILX Group PLC

12 October 2011

ILX Group PLC

Trading Update

ILX Group plc (AiM: ILX), the AIM quoted provider of e-learning software and business training, is pleased to provide an update on trading for the year to date.

The Group has continued to see growth in revenues in the first 6 months of the year. Software sales in particular have grown and now form substantially more than half of group sales, which has further contributed to an increase in gross margins.

The growth has been led by international sales, particularly in Australia and New Zealand where sales for the first six months have exceeded AUS$2.1m, compared to $870,000 for the same period last year. Overall, international revenues over the same period last year have doubled.

In the UK, whilst market conditions remain challenging, we have won a number of major e-learning and consultancy contracts and remain optimistic about the prospects for the full year.

Finally, the group is also pleased to announce that it has secured a deal with HSBC to refinance its current facilities from Barclays. The term has been extended to three years on more competitive terms that will reduce the interest cost to the Group.

Overall the Group expects to see revenues and profits for the first half ahead of the same period last year, and the Board remains confident in meeting full year market expectations.

Ken Scott, Chief Executive, ILX Group plc commented:

"The Group is performing well and, despite the ongoing economic difficulties in the world, we are now delivering significant international growth and putting in place the building blocks to accelerate this growth in the coming years.

Our decision to grow internationally is being validated and the prospects continue to look good.

"The HSBC refinance will not only reduce interest costs substantially in the next financial year but will also provide additional working capital as and when required to support our growth."

12 October 2011

Editors' Note

ILX Group plc (www.ilxgroup.com) is a leading provider of Best Practice learning products and services to the private and public sectors. ILX Group offers a variety of accredited technology led courses through a blend of traditional classroom, workshops & live forums and across all multi-media platforms: e-learning, social learning & mobile learning. It has developed its own proprietary software and is the market leader in PRINCE2. It trades through two divisions:

1. Best Practice provides e-learning, instructor-led learning and implementation consulting principally to the programme and project management, IT service management and business finance markets.

2. International was formed in late 2009 and provides products and services to overseas markets, including Australia, New Zealand, Middle East, US and across Europe.

For further information, please contact:

 
 ILX Group plc                     020 7751 7100 
 Ken Scott, Chief Executive 
 FinnCap                           020 7220 0500 
 Marc Young 
 Lothbury Financial Services       020 7868 2010 
 Michael Padley / Chris Roberts 
 

This information is provided by RNS

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