{"id":2893,"date":"2022-07-26T09:19:06","date_gmt":"2022-07-26T08:19:06","guid":{"rendered":"https:\/\/ltgplc.wpengine.com\/?p=2893"},"modified":"2022-07-26T09:20:04","modified_gmt":"2022-07-26T08:20:04","slug":"half-year-trading-update-notice-of-results-and-cmd","status":"publish","type":"post","link":"https:\/\/ltgplc.com\/news\/half-year-trading-update-notice-of-results-and-cmd\/","title":{"rendered":"Half Year Trading Update, Notice of Results and CMD"},"content":{"rendered":"
Learning Technologies Group plc, a market leader in digital learning and talent management, announces a trading update for the six months to\u00a030 June 2022.\u00a0 All figures relate to this period unless otherwise stated.<\/span>\u00a0<\/span><\/p>\n LTG has delivered a strong performance that reflects the resilience of its business model in a challenging macroeconomic environment and underpins full year expectations. \u00a0The Board expects the Group to deliver revenues of not less than\u00a0\u00a3280 million\u00a0(H1 2021:\u00a0\u00a382.6 million) reflecting the contribution of acquisitions, c.5% organic growth on a constant currency basis and the benefit of foreign exchange gains.<\/span><\/p>\n The integration of GP Strategies is progressing well with margin improvements and strong organic revenue growth ahead of our expectations.\u00a0 This momentum supports our confidence that GP Strategies will achieve our previously stated guidance of 12% EBIT margin in FY 2022.<\/span><\/p>\n Group adjusted EBIT for the first half is expected to be in excess of\u00a0\u00a343 million, almost double prior year (H1 2021:\u00a0\u00a322.0 million).<\/span><\/p>\n Net debt at\u00a030 June 2022\u00a0was\u00a0\u00a3145.3 million\u00a0(compared to\u00a0\u00a324.9 million\u00a0net cash at\u00a030 June 2021\u00a0prior to the GP acquisition).<\/span><\/p>\nNotice of results<\/span><\/h2>\n