Half Year Trading Update, Notice of Results & CMD

RNS Number : 6823T

Learning Technologies Group PLC

26 July 2022

 

26 July 2022

Learning Technologies Group plc

("LTG" or the "Group")

(AIM: LTG)

Half Year Trading Update, Notice of Results and CMD

Learning Technologies Group plc, a market leader in digital learning and talent management, announces a trading update for the six months to 30 June 2022.  All figures relate to this period unless otherwise stated.

LTG has delivered a strong performance that reflects the resilience of its business model in a challenging macroeconomic environment and underpins full year expectations.  The Board expects the Group to deliver revenues of not less than £280 million (H1 2021: £82.6 million) reflecting the contribution of acquisitions, c.5% organic growth on a constant currency basis and the benefit of foreign exchange gains.

The integration of GP Strategies is progressing well with margin improvements and strong organic revenue growth ahead of our expectations.  This momentum supports our confidence that GP Strategies will achieve our previously stated guidance of 12% EBIT margin in FY 2022.

Group adjusted EBIT for the first half is expected to be in excess of £43 million, almost double prior year (H1 2021: £22.0 million).

Net debt at 30 June 2022 was £145.3 million (compared to £24.9 million net cash at 30 June 2021 prior to the GP acquisition).

Notice of results

LTG will publish its half-year results on 22^nd September 2022.

Capital Markets Day

On 13^th October 2022, LTG will host a Capital Markets Day in London for analysts and investors. To register to attend, please contact [e-mail] .

Jonathan Satchell, Chief Executive of Learning Technologies Group, said:

"I am delighted the momentum in our business has continued since the start of the year. Our transformational acquisition of GP Strategies is delivering strong returns and offers new opportunities for the Group as an enlarged business.

The resilient organic growth across our divisions alongside the continuing outstanding margin improvement in GP Strategies, provides the Board with confidence for the full year. While we are mindful of the wider macro environment, LTG is better placed than ever to support an increasing number of organisations to recruit, train, motivate and retain talent."

Enquiries:

Learning Technologies Group plc Jonathan Satchell, Chief Executive Kath Kearney-Croft, Chief Financial Officer	[phone]
Numis Securities Limited (NOMAD and Corporate Broker) Stuart Skinner, Nick Westlake, Ben Stoop	[phone]
Goldman Sachs International (Joint Corporate Broker) Bertie Whitehead, Adam Laikin	[phone]
FTI Consulting  (Public Relations Adviser) Rob Mindell, Jamie Ricketts, Jamille Smith	[phone]

About LTG

Learning Technologies Group plc (LTG) is a leader in the growing workplace digital learning and talent management market. The Group offers end-to-end learning and talent solutions ranging from strategic consultancy, through a range of content and platform solutions to analytical insights that enable corporate and government clients to close the gap between current and future workforce capability.

LTG is listed on the London Stock Exchange's Alternative Investment Market (LTG.L) and headquartered in London. The Group has offices in Europe, North America, South America and Asia-Pacific.

 

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