StockMarketWire.com - Learning Technologies Group says profit for the year ended 31 December is in line with expectations after excellent EBITDA margins in the second half.

Cash generation remains strong with net cash at 31 December of GBP7.0 million (2014: GBP4.4 million). The Group has no debt. The year saw the vompany continue to build on the foundations that were laid in 2014. 2015 included the acquisition of Eukleia Training Limited ("Eukleia") in July which added specialist governance, risk and compliance expertise to the Group, particularly in the financial services sector. The integration of Eukleia is complete and the business is trading in line with expectations. In December 2015, LEO Learning Limited, in a strategic alliance with KPMG UK LLP ("KPMG"), won a formal tender process to provide learning and development services for the entire UK Civil Service. This is a landmark deal which endorses the Group's strategy to build a multi-discipline e-learning business of scale. The contract is for a period of 3 years, with CSL having the option to extend the agreement by a further year. Delivery of the initial learning components will commence in March 2016 and be complete by September 2016. The financial implications for the Group are expected to be significantly beneficial in 2016 and transformational in 2017 onwards. In addition to CSL, recent contract wins provide LTG with a strong platform as it enters 2016.

Chairman Andrew Brode said: "LTG has made good progress in 2015 delivering on its strategy of consolidating the fragmented e-learning industry and is optimistic about acquisition opportunities on both sides of the Atlantic.

"As demonstrated by recent contract wins, customers value the comprehensive blended learning services, strategic insight and solutions, and international reach, scale and responsiveness that the Group is able to offer."








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