19th Oct 2009 07:00
ILX Group plc
Trading Update
New Contract awarded by Virgin Media
ILX Group plc (the "Company"), the AIM quoted provider of e-learning software and business training to both the private and public sectors, announces a trading update regarding the six months ended 30 September 2009.
The Board is pleased to report a good first half of the year and we expect to meet the full year market forecasts.
Set against a difficult macro economic backdrop our Best Practice division has continued to perform very well. Our Banking & Finance division (formerly Corporate Training Group) has responded well to the unprecedented market conditions in its sector and, as previously announced, has gained market share. The division has been restructured in response to the contraction of its market and is well placed for an upturn in graduate recruitment amongst the investment banks.
The e-learning business has grown strongly in this first half of the year and as a result we are seeing continued margin improvement.
We won several new contracts in the period, including a significant contract in Mexico (announced on 23 September 2009). The most recent major contract is worth £100,000 and is with a large media company. Under the terms of the agreement, the company has a licence to use ILX's e-learning suite for internal training.
Ken Scott, Chief Executive, ILX Group plc commented:
"We are pleased with the first half of the year. We now look to build upon this and to continue to develop the business internationally with a particular emphasis on the success that we are having with our e-learning offering.
"Within the UK we continue to increase our market share and upon this foundation we intend to build a business with international reach."
19th October 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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FinnCap |
020 7600 1658 |
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Marc Young |
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Lothbury Financial |
020 7011 9411 |
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Michael Padley / Chris Price |
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:
1 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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