LONDON (ShareCast) - (ShareCast News) - Learning technologies company Learning Technologies Group announced its audited results for the year to 31 December on Wednesday, with revenue increasing to £28.3m from £19.9m - up 42%.
The AIM-traded firm said recurring revenues increased to 27% from 10%, while revenues generated outside of the UK increased to 36% from 12%.

Adjusted EBITDA increased 77% to £7.7m, with the board reporting a "significantly" improved adjusted EBITDA margin of 27% - up from 22%.

The company's statutory loss before tax was £1.2m, after accounting for acquisition-related deferred consideration as deemed remuneration.

Adjusted diluted earnings per share were up 57% at of 1.184p, and the board proposed a dividend for the full year of 0.21p per share, up 40% year-on-year.

It also claimed a "strong" balance sheet with shareholder equity of £30.7m, up from £25.1m a year earlier.

"2016 was another fantastic year for LTG during which we delivered strong revenue and profit growth as well as completing the acquisition of Rustici Software and investment in Watershed Systems," said CEO Jonathan Satchell.

"LTG is very well placed in its digital learning segment of the global corporate training market and it is pleasing to see that recurring revenues increased to 27% and revenues outside of the UK to 36%."

Chairman Andrew Brode said the group enjoyed a "strong start" to 2017 and was trading in line with management expectations, significantly ahead of last year.

"We expect the current financial year to benefit from a healthy order book, increased sales resulting from our compelling blended learning capability and continuing strong margins.

"LTG has substantially diversified its geographical reach in the past year and has developed a broad client base both across corporate and government sectors."

Brode said the board was excited by the opportunities already identified that the acquisition of NetDimensions offered the group.

"The board is therefore confident in the group's prospects and expects to report enhanced progress during 2017."

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE