Source - SMW
Digital learning and talent management group Learning Technologies posted a large rise in first-half profit, after the acquisition of PeopleFluent and contract wins boosted revenue.

Pre-tax profit for the six months through June rose to £6.8m, up from £1.3m on-year, as revenue rose 85% to £62.6m.

The company declared an interim dividend of 0.25p per share, up 67% on-year.

'In the first half of 2019 both our divisions have delivered a strong performance,' chief executive Jonathan Satchell said.

The software and platforms divisions had delivered an increasing proportion of high-margin recurring revenues from software licenses, while organic sales momentum had greatly increasing in the content and services division, Satchell said.

'Our first half performance increased recurring revenues and robust current trading provides great confidence for the year ahead to deliver further organic growth, strong margins and excellent cash generation,' he added.

'On the back of this momentum, we are investing in the 2019 second half to drive sales further, as well as supporting organic growth initiatives into 2020.'


At 1:56pm: (LON:LTG) Learning Technologies Group share price was -4.1p at 117.9p



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