25th Sep 2009 07:00
ILX GROUP PLC
AGM STATEMENT
At its Annual General Meeting later this morning, Ken Scott, the Chief Executive of ILX Group plc ("ILX" or "the Company"), the AIM quoted provider of e-learning software and business training to both the private and public sectors, will make the following comments:
"Despite difficult market conditions in the second half of last year we demonstrated considerable revenue growth, and a significant underlying profit, which was a highly creditable result. Our strategy for some years has been to focus on the provision of hard skills training to our customers through a combination of innovative e-learning products and traditional classroom training and this has been combined with a drive towards overseas expansion, to further diversify our client base geographically.
We recently announced a significant order from the Mexican Government and we are confident that we can build upon this and expand the model throughout Central and South America. In addition we have made excellent progress in developing new clients in the Middle East and Australia. Our sales of e-learning software, in particular, have shown strong growth in the current financial year.
Market conditions remain challenging, but both divisions have recently won new business, and are continuing to win market share. At the same time, we have taken action to considerably reduce the overhead cost within the business. This, combined with the growth in e-learning and overseas sales, allows us to be optimistic regarding the Company's prospects.
Finally, I would like to thank the management team and all the staff for their hard work that has enabled ILX to grow despite the difficult marketplace."
25th September 2009
For further information, please contact:
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ILX Group plc |
020 7751 7100 |
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Ken Scott, Chief Executive |
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Arbuthnot Securities Limited |
020 7012 2000 |
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Tom Griffiths |
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Lothbury Financial |
020 7011 9411 |
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Michael Padley / Libby Moss |
Editors' Notes
ILX Group plc (www.ilxgroup.com) is a leading provider of vocational training to the private and public sectors, delivered through e-learning, and instructor-led courses/workshops, and trades through two divisions:
Best Practice provides e-learning, instructor-led training and implementation consultancy principally to the programme and project management, IT service management and business finance markets.
2. Banking & Finance provides instructor-led training, workshops and related services, principally to the investment banking community.
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