{"id":1542,"date":"2017-04-05T10:08:34","date_gmt":"2017-04-05T09:08:34","guid":{"rendered":"https:\/\/ltgplc.wpengine.com\/?p=883"},"modified":"2018-09-23T07:46:57","modified_gmt":"2018-09-23T06:46:57","slug":"ltg-demonstrates-excellent-progress-2016-year-end-results","status":"publish","type":"post","link":"https:\/\/ltgplc.com\/news\/ltg-demonstrates-excellent-progress-2016-year-end-results\/","title":{"rendered":"LTG demonstrates ‘excellent progress through 2016’ in year end results"},"content":{"rendered":"

Learning Technologies Group plc (LTG), is pleased to announce its audited results<\/a> for the year ended 31 December 2016.<\/p>\n

Financial highlights:<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\nRevenue increased to \u00a328.3 million (2015: \u00a319.9 million) – up 42%<\/span><\/td>\n<\/tr>\n
<\/td>\nRecurring revenues increased to 27% (2015: 10%) – up 170%<\/span><\/td>\n<\/tr>\n
<\/td>\nRevenues generated outside of the UK increased to 36% (2015: 12%) – up 200%<\/span><\/td>\n<\/tr>\n
<\/td>\nAdjusted EBITDA increased to \u00a37.7 million (2015: \u00a34.3 million) – up 77%<\/span><\/td>\n<\/tr>\n
<\/td>\nSignificantly improved adjusted EBITDA margin of 27% (2015: 22%) – up 29%<\/span><\/td>\n<\/tr>\n
<\/td>\nStatutory loss before tax of \u00a31.2 million after accounting for acquisition related deferred consideration as deemed remuneration<\/span><\/td>\n<\/tr>\n
<\/td>\nAdjusted diluted earnings per share of 1.184 pence (2015: 0.756 pence per share) – up 57%<\/span><\/td>\n<\/tr>\n
<\/td>\nProposed dividend for the full year of 0.21 pence per share (2015: 0.15 pence) – up 40%<\/span><\/td>\n<\/tr>\n
<\/td>\nStrong balance sheet with shareholders\u2019 equity of \u00a330.7 million (2015: \u00a325.1 million)<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\nOperational highlights:<\/b><\/p>\n\n\n\n\n\n\n\n\n\n
<\/td>\nExcellent progress in delivering on LTG\u2019s strategic ambition to build an international comprehensive digital learning offering for corporate and government clients<\/span><\/td>\n<\/tr>\n
<\/td>\nSuccessful acquisition in January 2016 of Rustici Software, the acknowledged global leader in e-learning interoperability standards; results significantly ahead of expectations <\/span><\/td>\n<\/tr>\n
<\/td>\n27.3% stake in Watershed Systems in January 2016 developing suite of analytical tools to capture rich data on learners and measure performance<\/span><\/td>\n<\/tr>\n
<\/td>\nAcquisition of NetDimensions post year-end in March 2017; leading global enterprise solutions provider of talent and learning management systems<\/span><\/td>\n<\/tr>\n
<\/td>\nLeveraging of LTG\u2019s blended service strategy reinforcing strong organic growth<\/span><\/td>\n<\/tr>\n
<\/td>\nSuccessful, on time and on budget implementation of landmark Civil Service contract with revenues anticipated to grow significantly in 2017<\/span><\/td>\n<\/tr>\n
<\/td>\nStrong start to 2017 with trading in line with management\u2019s expectations and order book significantly ahead of the prior year on a like for like basis<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\nCommenting, Jonathan Satchell, CEO of LTG, said:<\/b><\/p>\n

\u201c2016 was another fantastic year for LTG during which we delivered strong revenue and profit growth as well as completing the acquisition of Rustici Software and investment in Watershed Systems. <\/span><\/p>\n

LTG is very well placed in its digital learning segment of the global corporate training market and it is pleasing to see that recurring revenues increased to 27% and revenues outside of the UK to 36%.\u201d<\/span><\/p>\n

Commenting, Andrew Brode, Chairman of LTG, said:<\/b><\/p>\n

\u201cThe Group has enjoyed a strong start to 2017 and is trading in line with management\u2019s expectations, and significantly ahead of last year. \u00a0We expect the current financial year to benefit from a healthy order book, increased sales resulting from our compelling blended learning capability and continuing strong margins. \u00a0LTG has substantially diversified its geographical reach in the past year and has developed a broad client base both across corporate and government sectors. \u00a0The Board is excited by the opportunities already identified that the acquisition of NetDimensions offers the Group. \u00a0The Board is therefore confident in the Group\u2019s prospects and expects to report enhanced progress during 2017.\u201d<\/span><\/p>\n

Enquiries:<\/b><\/h4>\n

Learning Technologies Group plc<\/b><\/p>\n

Jonathan Satchell, Chief Executive<\/span><\/p>\n

Neil Elton, Group Finance Director\u00a0<\/span><\/p>\n

+44(0)207 402 1554<\/span><\/p>\n

Numis Securities Limited <\/strong><\/p>\n

Stuart Skinner\/Michael Wharton (Nominated Adviser)<\/span><\/p>\n

Ben Stoop (Corporate Broker)\u00a0<\/span><\/p>\n

+<\/span>44 (0)20 7260 1000<\/span><\/p>\n

Hudson Sandler LLP<\/b><\/p>\n

Andrew Hayes\/Bertie Berger<\/span><\/p>\n

+44 (0)20 7796 4133<\/span><\/p>\n

View the full published report<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Learning Technologies Group plc (LTG), is pleased to announce its audited results for the year ended 31 December 2016. Financial highlights: Revenue increased to \u00a328.3…<\/p>\n","protected":false},"author":17,"featured_media":1612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/ltgplc.com\/wp-json\/wp\/v2\/posts\/1542"}],"collection":[{"href":"https:\/\/ltgplc.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ltgplc.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ltgplc.com\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/ltgplc.com\/wp-json\/wp\/v2\/comments?post=1542"}],"version-history":[{"count":0,"href":"https:\/\/ltgplc.com\/wp-json\/wp\/v2\/posts\/1542\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ltgplc.com\/wp-json\/wp\/v2\/media\/1612"}],"wp:attachment":[{"href":"https:\/\/ltgplc.com\/wp-json\/wp\/v2\/media?parent=1542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ltgplc.com\/wp-json\/wp\/v2\/categories?post=1542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ltgplc.com\/wp-json\/wp\/v2\/tags?post=1542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}