Learning Technologies sees 'material' annual earnings beat
Source - SMW
Workplace digital learning company Learning Technologies Group said it expected its full-year earnings to be 'materially ahead' of market expectations following a rise in the first half.
In a trading update for its interim results through June, the company said it expected its first-half revenue to rise by around 85% to around £62.5m
Adjusted Ebit was anticipated to more than double, and be ahead of expectations, at not less than £20.0m, representing an Ebit margin increase from 26.3% to around 32.0%.
'The board is confident that full-year adjusted Ebit will be materially ahead of current market expectations,' Learning Technologies said.
Around 67% of revenues were from recurring contracts, up from 51% on-yera, primarily driven by the PeopleFluent acquisition in May 2018.
'I am particularly delighted by the sales momentum in our content & services division that has built over the last nine months,' chief executive Jonathan Satchell said.
'Our software & platforms division continues to go from strength-to-strength.'
At 9:25am: (LON:LTG) Learning Technologies Group share price was +17.4p at 111.2p