Learning Technologies trading in line as recent acquisitions deliver

Digital learning and talent management company Learning Technologies (LTG) updated the market on its trading on Wednesday, reporting that the current year had started well.

The AIM-traded firm, which was holding its annual general meeting, said so far in 2021 its performance was in line with management expectations, despite the weakening of the dollar against sterling.

Chairman Andrew Brode said the board was “confident” of a strong recovery in its content and services division in 2021, and was “encouraged” by the performance of the software and platforms operation, which was “enhanced” by its recent acquisitions, where integration was “well-advanced” and delivering ahead of expectations.

“This overall momentum underpins LTG's ambitious medium-term goal, to achieve £230m revenue and £66m adjusted EBIT on a run-rate basis by the end of 2022,” Brode said.

LTG said its net cash stood at £24.8m as at 30 April.

“Together with our bank facilities, the company has substantial capacity to pursue our exciting pipeline of further acquisition opportunities.”

At 1152 BST, shares in Learning Technologies Group were up 1.29% at 180.5p.