Learning Technologies Group plc is pleased to announce its interim results for the 6 months ended 30 June 2014. During the period, LTG acquired LINE Communications, merged it with its main business Epic to form LEO, creating the European market leader in e-learning custom content. LTG also acquired Preloaded, extending the Company’s expertise into innovative learning games.
Highlights of the interim report include:
- Revenue increased 75% to £6.5m (2013: £3.7m)
- The original business, Epic, delivered organic sales growth of 8%
- Adjusted EBITDA grew to £874,000 (2013: £563,000)
- Cash balance at the period end of £3.8m
- Maiden dividend of 0.03p per share, planned to be announced
- Significant expansion to build the European market leader in custom content through strategic acquisitions of LINE and Preloaded
- Acquisitions integrated successfully into the Group, to plan and budget. Epic and LINE merged to form LEO, full benefits to be felt in 2015
- International markets: US performing well, Brazil JV has been affected by World Cup hiatus, now picking up
- gomo, LTG’s bespoke authoring tool, gaining momentum and beginning to deliver a consistent revenue stream
- Current trading in line with expectations
Andrew Brode, Chairman said:
“Through the acquisition of LINE and its subsequent integration with our business Epic, we have created the European market leading force in e-learning custom content. This will provide a strong platform for growth with the increased capacity, talent and capability enabling us to compete for a broader range of large contracts. Preloaded has brought to us an extra dimension in the fast growing learning games sector. These two businesses have integrated well and we will see the full benefit in 2015. We are well placed and remain set on our goal of achieving a company with sales in excess of £50m.”
You can access the interim report here.