Learning Technologies Expects Notable Jump in 1H Revenue, Earnings

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By Joe Hope

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Learning Technologies Group PLC said Tuesday that it expects a significant rise in revenue and earnings for the first half, underpinning expectations for the full year.

The UK provider of services and technology for digital learning said it expects first-half revenue of at least 280 million pounds ($337.3 million), up from GBP82.6 million. The increase reflects the contribution of acquisitions, around 5% organic growth on a constant currency basis and beneficial foreign-exchange gains, it said.

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Adjusted earnings before interest and taxation is expected to exceed GBP43 million, compared to GBP22 million a year prior.

The company said the integration of its GP Strategies acquisition is progressing well, with margins improvements and organic revenue growth ahead of expectations, and that it expects the unit to achieve its 12% EBIT margin guidance for the year.

Learning Technologies said that while it is mindful of the wider macroeconomic environment, it was better placed than ever to support clients.

“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,” Chief Executive Jonathan Satchell said.

The company didn’t provide any figures for full-year expectations.

Write to Joe Hoppe at [email protected]

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Credit: www.marketwatch.com /

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