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Thursday 22 September 2022

Resilient LTG delivers organic growth alongside acquisition-based expansion

Learning Technologies GroupThe Q421 acquisition of US-based workforce transformation business GP Technologies that was described as transformative at the time has made a dramatic difference to the scale and growth of Learning Technologies Group. The GP Technologies contribution of £184.9m was largely responsible for LTG’s 241% revenue growth to £281.8m in H1 (ending 30 June 2022). On an organic basis, revenue growth was 5.2%. 

Management at the digital learning and talent management provider noted that performance reflected the resilience of its business model against the backdrop of inflationary pressures and a challenging macroeconomic environment. While GP Technologies clearly had a substantial impact on performance, overall performance was also aided by favourable FX tailwinds from the strengthening US dollar. Nevertheless, 5.2% organic growth should not be overlooked, although the rate of growth was down on the 7% of H121. The Software & Platforms segment (26% of revenue) delivered 6.5% organic growth, and 21% including acquisitions in H122. Content and Services (8% of business)  grew 1.6% organically and 6% in total. GP Strategies delivered 4.6% organic growth in H1.

The bottom line reflected overall growth gains, with adjusted EBIT doubling to £44.1m, and operating profit rising to £21.4m  vs. £5.1m in the year ago period.

Even with the difficult economic backdrop, the level of job vacancies in the UK for example should play to LTG’s strengths as organisations focus on recruiting, training, motivating, and retaining their workforce. Despite a decrease in the number of people in or seeking work in the UK compared to pre-COVID, this is a time of opportunity for LTG. 

Posted by: Angela Eager at 09:27

Tags: results   software  

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