Learning Technologies Group (LTG) revealed in a trading update on Tuesday that profits for the year were ahead of expectations, after improved margins and synergies coming through from its acquisitions.
The digital learning and talent management technology provider expects revenue growth of around £130 million, a 38% increase from £93.9 million in the prior year.
The surge in revenues was driven by strong performance in its Software and Platforms division, from its acquisition of BreezyHR, and a full year contribution of PeopleFluent and Watershed.
Learning Technologies said earnings would be ‘comfortably’ ahead of market expectations at no less than £41 million, a 58% bump from the previous year’s £26 million, and reported a £3.8 million cash position at 2019 year end.
Shares in Learning Technologies were trading 8.23% higher at 148.93p on Tuesday
Jonathan Satchell, CEO of LTG, said: "2019 has been a year of encouraging growth across the Group with a strong performance in Content & Services in the second half of the year and outstanding results from our innovative Software & Platform businesses such as BreezyHR, Rustici and Watershed complementing our established PeopleFluent talent and learning business.”
Learning Technologies said it expects PeopleFluent, which accounted for around $93 million in revenues for the year, to return to growth in 2020.
Mr. Satchell said: “LTG has proven that it can successfully integrate, improve and grow the businesses we acquire, delivering excellent value for shareholders and comprehensive, innovative and industry-leading capabilities and services for our clients.”
He added: “We have an active pipeline of acquisition opportunities in 2020 and continue to invest in cross-selling initiatives and explore new routes-to-market."
Learning Technologies is to release its full year results on 24 March 2020.
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