StockMarketWire.com - Learning software provider Learning Technologies Group swung to a first-half profit and said it expected its result for the full year to be significantly ahead of board expectations.

Pre-tax profit for the six months through June amounted to £1.3m, compared to losses of £2.3m on-year.

Revenue rose 60% to £33.8m, with organic revenue up 10% on a constant currency basis.

Operating margins expanded to 26.3%, from 17.8% on-year.

The company declared an interim dividend of 0.15p per share, up 67% on-year.

'The first half of 2018 has been pivotal for Learning Technologies with the PeopleFluent acquisition confirming our shift towards recurring software revenues, and significantly increasing our US presence,' chief executive Jonathan Satchell said.

'Alongside our track record of delivering organic growth and substantial margin improvements, Learning Technologies has a strong balance sheet and acquisition pipeline, and is well placed to continue its strategy of consolidating the high growth corporate e-learning market.

'A robust performance from our core business and the successful integration of PeopleFluent underpins our confidence that full year profit will be significantly ahead of the board's expectations.'




At 2:48pm: [LON:LTG] Learning Technologies Group share price was +21p at 147p



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