22nd Jan 2019 12:05
LONDON (Alliance News) - Learning Technologies Group PLC on Tuesday said it expects its annual revenue to almost double.
For 2018, the digital learning solutions provider, expects group revenue of GBP94.0 million, up 80% from GBP52.1 million a year ago, primarily on the back of the PeopleFluent acquisition completed in May 2018.
Adjusted earnings before interest and tax are expected to be "significantly ahead of expectations" at not less than GBP26.5 million as a result of improved margins across the group and operational synergies. A year ago, Ebit was GBP14.0 million.
Chief Executive Officer Jonathan Satchell said: "2018 has been another exceptional year of growth and fundamental transition for Learning Technologies Group, as we evolve towards a high margin, recurring revenue model with the majority of our revenue derived from the US."
Learning Technologies shares were trading down 2.5% at 94.80 pence each.
Related Shares:
Learning Technologies Group