24th Apr 2009 07:00
ILX Group plc
Trading Update
ILX Group plc (the "Company"), the AIM quoted provider of computer based business training to both the private and public sectors, announces a trading update regarding the year ended 31 March 2009.
Despite a period of unprecedented turmoil in the market in general and the financial sector in particular, the Board expects turnover for the year ended 31 March 2009 to be ahead of, and profits to be slightly below, market expectations. The Company finished its financial year strongly with a record level of forward revenues and this trend has continued into the current financial year.
The Best Practice division has continued to build upon the momentum developed in late 2007 and is performing exceptionally well. However, Corporate Training Group (CTG) came under both margin and revenue pressure in the second half, and, as reported in November 2008, the demise of Lehman Brothers had a negative impact.
Best Practice is gaining market share in a growing market. Both divisions continue to win new clients and, following its latest contract win, CTG is now the preferred trainer for another leading European bank.
Ken Scott, Chief Executive, ILX Group plc commented:
"Although the last financial year was tough we won several new accounts and increased our market share. Best Practice performed particularly well, whilst CTG maintained its market share.
"We have won several new accounts already in the first 3 weeks of the current financial year and have begun the year with forward revenues in excess of £1 million.
"Overall, I am pleased with the progress made, in very difficult circumstances, and we are in an excellent position to take advantage of any improvement in market conditions."
24th April 2009
For further information, please contact:
|
ILX Group plc |
020 7751 7100 |
|
Ken Scott, Chief Executive |
|
|
Arbuthnot Securities Limited |
020 7012 2000 |
|
Tom Griffiths |
|
|
Lothbury Financial |
020 7011 9411 |
|
Michael Padley / Chris Price |
Related Shares:
Progility