LTG is delighted to announce its final results for the year ended 31 December 2014. The results are not only ahead of expectations, but also demonstrate an excellent start and strong order book for 2015.
Key highlights include:
- Operating performance ahead of expectations
- Revenue for the Group grew 97% to £14.9m (2013: £7.6m)
- Adjusted EBITDA increased by 42% to £2.1m (2013: £1.5m)
- Strong balance sheet with £4.4m of cash (2013: £1.2m) and no debt
- Successful acquisitions of LINE and Preloaded and merging of LINE and Epic to form LEO, deepening and extending the Group’s capabilities, expertise and client base
- A strong order book in Q4 2014 has been further enhanced in Q1 2015. Recent substantial wins alongside key strategic partners include multi-year contracts with the Ministry of Defence, a significant project for a central government department, and an innovative learning games campaign for a global restaurant chain
- The pipeline of new business opportunities is now at record levels
- gomo 2.0, LTG’s self-authoring tool has been well received and the recent launch of gomo 3.0 generates further significant opportunities
- Proposed final dividend of 0.07 pence equating to a full year dividend of 0.10 pence
Andrew Brode, Chairman of LTG, commented:
“LTG has made good progress in 2014 delivering on its strategy of consolidating the fragmented e-learning industry. The successful formation of LEO creates the European market leader in custom e-learning solutions and Preloaded has seen marked success in the exciting, early stage, ‘games with purpose’ space. We continue to pursue further acquisition opportunities as part of our strategy to build a £50m revenue business.
We have enjoyed an excellent start to 2015 and anticipate further profitable progress from a strong foundation.”
Read the full results in the RNS.