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Profit and cash well ahead of expectations for Learning Technologies

Jonathan Satchell, chief executive of Learning Technologies Group PLC (LON:LTG) tells Proactive's Andrew Scott profit and cash generation in 2017 were significantly ahead of expectations.

Satchell says they're expecting group revenues for 2017 to be not less than £51.8mln, up from £28.3mln in 2016.

The strong performance was driven by organic revenue growth of more than 20% (excluding the Civil Service training contract it won in partnership with KPMG), with recurring revenues up to 39% from 27% in 2016, largely as a result of the strong growth in the group’s software businesses and a maiden contribution from NetDimensions, which was acquired in March 2017.

 

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