Learning Technologies Group plc (LTG) is pleased to announce its interim results for the six months ended 30 June 2015. During the period, LTG continued to experience stable growth across the Group, and has secured a strong order book for the second half of 2015.
Highlights of the report include:
- Revenue increased 29% to £8.4 million (H1 2014: £6.5m)
- Adjusted EBITDA grew by 47% to £1.3m (H1 2014: £0.9m)
- Cash balance at the end of the period of £3.0m
- Merger of LINE and Epic in 2014, to form LEO, delivered projected synergies of £0.7m
- Substantial contract win in partnership with KPMG
- Successful launch of gomo 3.0, LTG’s cloud-based self-authoring tool; strong sales growth in H1 and high renewal rates
- International: Brazil JV had exceptional sales period, enters second half of the year reporting first monthly profit; US, slow start to the year but new VP appointed and sales pipeline and order book grown encouragingly
- Interim dividend of 0.05 pence per share (2014: 0.03 pence per share)
- Post period-end acquired Eukleia Training Limited, extending the Group’s service offering into Governance, Risk and Compliance, funded by £7.5m equity raise
- Current trading in-line with expectations
Andrew Brode, Chairman said: “We set out to create a business of significant scale and are making good progress through the merger of LINE and Epic to form LEO and acquisitions that extend our capability, our sector expertise and our geographic reach. We are now reaping the benefits from the acquisitions we have made, providing us with scale and a greater breadth of service offerings to a broader client base. Preloaded and gomo are also performing well and proving a complementary fit to this business. We have a strong order book and an acquisition pipeline to progress our strategy of becoming a £50m revenue business.”
You can access the LTG interim report here.