Final results 2017 – “another excellent year of growth”

Learning Technologies Group plc (LTG), is pleased to announce its audited results for the year ended 31 December 2017.

Financial highlights:

FY17

FY16

change

Revenue

£52.1m

£28.3m

+84%

Recurring Revenue %

39%

27%

Revenues Outside UK %

46%

36%

Adjusted EBIT

£14.0m

£7.0m

+102%

Statutory PBT

£0.7m

(£1.2m)

Adj. Diluted EPS

2.064p

1.184p

+74%

Proposed Full Year Dividend per share

0.30p

0.21p

+43%

Net Cash / (Debt)

£1.0m

(£8.5m)

Operational highlights:

Content & Services (59% of Group revenues in 2017)

·      Successful account management approach has resulted in broadening and deepening of client relationships, increasing average revenue per client and driving strong organic growth

·      LEO Learning’s sales were 40% up on 2016 (excluding CSL) resulting in a record order book for 2018

·      Preloaded wins accolades for its virtual reality learning experiences at the Science Museum and Tate Modern 

Platforms (41% of Group revenues in 2017)

·      Acquisition of NetDimensions brings to the Group a leading global proprietary Learning Management System to complement LEO’s open-source Moodle offering

·      Successful integration of NetDimensions into the Group realises synergies on time and to budget; considerable success in renewing contracts and winning new customers

·      High retention rates in gomo and Rustici combined with new sales wins drive strong organic growth; Watershed is successfully developing its analytics platform

 Outlook:

·      Current trading ahead of management expectations

·      Healthy order book, together with increased sales from compelling blended learning capability and strong margins, provide confidence for the financial year ahead

·      Strong pipeline of strategic acquisition opportunities being actively pursued

Commenting, Jonathan Satchell, CEO of LTG, said:

“Learning Technologies Group enjoyed a very strong year in 2017, as we create a market leader in the fast-growing digital learning industry. We continue to diversify our revenue streams across a range of technical and service capabilities, geographies, and market sectors.  The growth in recurring revenue provides us with greater visibility and supports our investment for long-term shareholder value as we scale the Group globally, broaden our capabilities and deepen our client relationships.”

 Commenting, Andrew Brode, Chairman of LTG, said:

“I am delighted by the achievements in 2017 and excited that the success of our NetDimensions transaction has transformed the scale and range of our acquisitions.”

To find out more, read LTG’s Annual Report 2017

Our portfolio
LEO Learning gomo learning Preloaded Eukleia Rustici Software NetDimensions PeopleFluent