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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Learning Technologies Group Plc | LSE:LTG | London | Ordinary Share | GB00B4T7HX10 | ORD 0.375P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.40 | 0.54% | 74.70 | 73.40 | 75.70 | 76.10 | 74.50 | 74.50 | 1,274,425 | 16:35:14 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Agents & Mgrs | 562.34M | 29.45M | 0.0372 | 20.32 | 598.12M |
TIDMLTG
RNS Number : 4425C
Learning Technologies Group PLC
22 January 2018
22 January 2018
Learning Technologies Group plc
(AIM: LTG)
Pre Close Update
Profit and cash significantly ahead of market expectations
Learning Technologies Group plc ("LTG" or "the Group"), the leading integrated e-learning services and technologies provider, is pleased to announce the following update for the year ending 31 December 2017, ahead of the announcement of its full year results, which is expected on 19 March 2018.
The Board expects Group revenues to be not less than GBP51.8 million (2016: GBP28.3 million). This excellent performance has been driven by exceptional underlying organic revenue growth of more than 20% (excluding the CSL contract in partnership with KPMG UK LLP), with recurring revenues increasing to 39% (2016: 27%) primarily as a result of the strong growth in the Group's software businesses, and a maiden contribution from NetDimensions, acquired in March 2017.
Adjusted EBIT is materially ahead of market expectations at not less than GBP14.0 million (2016: GBP7.0 million) primarily as a result of strong growth in services and software licence sales, the successful integration of NetDimensions, and continued cost control.
The Group's cash position is also significantly ahead of market expectations, primarily as a result of good operating cash conversion, the successful integration of NetDimensions, and the exercise of employee share options. At 31 December 2017 gross cash was GBP15.7 million (2016: GBP5.3 million) and net cash was GBP1.0 million (2016: net debt of GBP8.5 million).
LTG continues to enjoy an encouraging pipeline of international acquisition opportunities as it seeks to diversify and deepen its strategic consultancy, creation, delivery, and analytics offering in the fast growing learning technologies market.
Andrew Brode, Chairman of LTG, said:
"2017 has been another exceptional year. LTG has experienced robust organic revenue growth during the year and, along with the successful acquisition and integration of NetDimensions, now enjoys a higher proportion of recurring revenues and an increasingly diversified client base both in terms of market sectors and geographical reach.
LTG's scale and expertise allows it to work closely with large blue-chip corporates and national governments as their trusted strategic partner, who are increasingly embracing e-learning solutions as evidenced by the record order book we carry into 2018.
In October we announced our new strategic objective to deliver run-rate revenues of GBP100 million and run-rate EBIT of GBP25 million by the end of 2020, financed through the use of internally generated operating cash flows and prudent debt financing, minimising dilution for shareholders. These impressive results for 2017 are an encouraging indicator of the progress that is being made towards this ambitious goal."
Enquiries:
Learning Technologies Group plc Jonathan Satchell, Chief Executive Neil Elton, Group Finance +44 (0)20 Director 7402 1554 Numis Securities Limited Stuart Skinner / Michael Wharton (Nominated Adviser) +44 (0)20 Ben Stoop (Corporate Broker) 7260 1000 Hudson Sandler LLP (PR Adviser to LTG) +44 (0)20 Dan de Belder / Bertie Berger 7796 4133
About LTG:
LTG is a leader in the high growth workplace e-learning industry. The Group offers truly end-to-end learning solutions ranging from strategic consultancy, through a range of content and platform solutions to analytical insights that enable corporate and government clients to meet their performance objectives.
LTG is listed on the London Stock Exchange Alternative Investment Market (LTG.L) and headquartered in London. The Group has offices in Europe, the United States, Asia-Pacific and South America.
This information is provided by RNS
The company news service from the London Stock Exchange
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January 22, 2018 02:00 ET (07:00 GMT)
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