LONDON (ShareCast) - (Sharecast News) - Digital learning and talent management firm Learning Technologies saw strong sales momentum in the first half of its trading year, with underlying earnings "materially ahead" of expectations.
Learning Tech expects interim group revenues to hit approximately £62.5m - an 85% increase on the £33.8m reported a year earlier.

Adjusted EBIT was also forecast to be ahead of expectations at "not less than £20m" for the first half of 2019, an increase of roughly 125%, while EBIT margins were projected to increase from 26.3% to 32.0%.

Learning Tech also highlighted that approximately 67% of revenues were from recurring contracts, primarily driven by its "transformational" acquisition of PeopleFluent in May 2018.

Net debt was in line with expectations at £13.9m - ahead of the £11.5m the group owed at the end of the 2018 calendar year as a result of its acquisition of Breezy HR in April.

Chief executive Jonathan Satchell said: "I am particularly delighted by the sales momentum in our content and services division that has built over the last nine months. Our software and platforms division continues to go from strength-to-strength."

"This strong H1 performance underpins the board's confidence that full-year EBIT will be materially ahead of expectations."

As of 345 BST, Learning Tech shares had shot up 18.12% to 110.80p.

Email this article to a friend

or share it with one of these popular networks:

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