StockMarketWire.com - Learning Technologies Group's reported a statutory profit before tax of £0.7m in the year to the end of December, compared with a loss of £1.2m last year, as revenue increased by 84% to £52.1m.

Recurring revenues increased 39%, well above the 27% increase seen in the previous year.

Revenues generated outside of the UK increased to 46%, up from 36% in 2016, while adjusted EBIT rose to £14m, up 102% from 2016.

Adjusted diluted earnings per share of 2.064p was up 74% on the prior year, while dividend for the year was 0.30p, up 43%.

The group said that current trading was ahead of management expectations.

Chief executive Jonathan Satchell said: 'Learning Technologies Group enjoyed a very strong year in 2017, as we create a market leader in the fast-growing digital learning industry. We continue to diversify our revenue streams across a range of technical and service capabilities, geographies, and market sectors.'

'The growth in recurring revenue provides us with greater visibility and supports our investment for long-term shareholder value as we scale the Group globally, broaden our capabilities and deepen our client relationships.'




At 8:00am: [LON:LTG] Learning Technologies Group share price was +2.5p at 85.5p



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