LTG announces year end results

LTG announces year end results

LTG is pleased to announce its audited results for the year ended 31 December 2015, which show strong growth in revenue and margins.

Financial highlights:

  • Revenue increased to £19.9 million (2014: £14.9 million) – up 33%
  • Adjusted EBITDA more than doubled to £4.3 million (2014: £2.1 million) – up 107%
  • Significantly improved adjusted EBITDA margin of 21% (2014: 14%) – up 50%
  • Adjusted diluted earnings per share of 0.756p (2014: 0.375p per share) – up 102%
  • Proposed dividend for the full year of 0.15p per share (2014: 0.10p) – up 50%
  • Balance sheet strengthened further –  £7.3 million cash and no debt

Operational highlights:

  • Acquisition of Eukleia to LTG portfolio in July 2015 for initial consideration of £8.3 million:
    • adds governance, risk and compliance expertise and specialist financial services sector offering
    • business now fully integrated and operating to plan
  • Landmark contract win delivered in a strategic alliance with KPMG UK LLP for UK Civil Service:
    • delivering blended learning for over 400,000 staff over next three years
    • demonstrating credibility and scale of LTG’s offering and capabilities
  • Post year end acquisition of Rustici and investment in Watershed:
    • places LTG at the heart of global e-learning interoperability standards
    • ability to ascertain the impact and effectiveness of learning programmes

Andrew Brode, Chairman of LTG, said: “The last 18 months have been transformational for the Group.  Our strategy of creating a group of market-leading businesses providing global, complementary services in the fast growing learning technologies sector is rapidly taking shape.”

Jonathan Satchell, Chief Executive of LTG, said: “We have established a strong platform on which we can build and the Group is delivering to plan. I believe that LTG is very well placed to achieve a prominent position in a highly fragmented, growing market, currently estimated to be worth £140 billion. We see the ability to measure the impact of learning as the next major disruption to the e-learning industry.  LTG’s acquisition of Rustici and investment in Watershed in January 2016 places us at the vanguard of this crucial and exciting change. We view the future with confidence.”

You can download the Annual Report and Financial Statements here.

 

 

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