(Alliance News) - Learning Technologies Group PLC announced on Tuesday it improved its full-year expectations due to the success of acquisitions made in 2021.
Shares in Learning Technologies were up 11% at 164.60 pence on Tuesday in London.
The London-based workplace digital learning and talent management company said it expects group revenues to be not less than GBP254 million in 2021. This would be a 92% increase from GBP132.3 million the previous year.
Organic revenue growth on a constant currency basis is expected to be not less than 7%. Learning Technologies said this was driven by its Content & Services division returning to 2019 levels alongside the continued growth within the Software & Platforms division which has seen a high proportion of multi-year contracts.
Adjusted earnings before interest and tax is expected to be GBP53.7 million, up 33% from GBP40.3 million in 2020. Learning Technologies said this has been driven by organic growth and the contribution of the acquisitions completed in the first half of 2021.
Learning Technologies acquired the performance management platform Reflektive, the inclusion and diversity training consultancy PDT Global and skills development platform Bridge. The company explained that these acquisitions have been fully integrated and made an important contribution to the group's results.
Chief Executive Jonathan Satchell said: "Following a remarkable year at Learning Technologies Group, it is very encouraging to report that the business is delivering on all fronts. Sustained business momentum across both our divisions in 2021 drove continued growth on a like-for-like basis. Additionally, the investments made last year in highly attractive acquisitions are already creating value."
By Heather Rydings; heatherrydings@alliancenews.com
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