StockMarketWire.com - Learning Technologies delayed its final dividend despite reporting a rise in profit as revenue was boosted by acquisitions.

In light of uncertainty for the remainder of the financial year resulting from the impact of COVID-19, the company said it would postpone the final dividend, which would have been 0.5 pence per share, until market conditions normalised.

For the twelve months ended 31 December 2019, pre-tax profit rose 316% to £14.3m and revenue climbed 39% to £130.1m on-year

Revenue was largely driven by the full-year contribution of PeopleFluent - acquired May 2018 - and the acquisition of BreezyHR in April 2019, the company said.

Looking ahead, the company said it had not seen a material impact on performance from the Covid-19 pandemic, though flagged a potential slowdown in new business wins.

'The current financial year has started well and is in line with management expectations; we have not yet seen a material impact from the ongoing COVID-19 outbreak on our performance,' the company said.

'We anticipate our multi-year recurring revenues to continue largely unaffected by the current market uncertainty although new business wins may be delayed,' it added.


At 9:49am: [LON:LTG] Learning Technologies Group PLC share price was +0.6p at 115.8p



Story provided by StockMarketWire.com