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Thursday 22 July 2021

A solid start to 2021 for LTG

LTG logoLearning Technologies Group (LTG) has provided a trading update for the six months to 30 June 2021. Despite challenging exchange rate headwinds, the digital learning and talent management technology business expects revenue to increase c.29% to approximately £82.5m (H1 2020: £64.1m). Adjusted EBIT was up c.20% to approximately £22.0m (H1 2020: £18.4 million).

Growth includes contributions from recent acquisitions as well as organic growth of c.7% (constant currency basis). Acquisitions completed during the period have performed well. Bridge and Reflektive, which were loss making at the time of acquisition, are now profitable, and PDT Global has grown strongly.

Organic growth was particularly strong in LTG's Content & Services division, where growth of c.14% was driven by increased demand for LEO's blended learning and Affirmity's diversity and inclusion solutions. Its Software & Platforms division has also had a solid period (organic growth of c.5%), with strong performances from Breezy HR (acquired in 2019) and Rustici.

The company has recently announced its intention to buy GP Strategies in a $394m deal. Today's update states that LTG has identified significant margin enhancement and cross-sell opportunity from the acquisition, which is expected to complete in Q4 2021. It has been a solid start to 2021, in what is likely to be a transformative year for the business. 

Posted by: Dale Peters at 08:23

Tags: results   software   H1   workforce  

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