By Joe Hoppe
Learning Technologies Group PLC said on Tuesday it expects a significant increase in first-half revenue and profit, underpinning expectations for the full year.
The British digital learning technology and services provider said it expects first-half revenue of at least 280 million pounds ($337.3 million), up from 82, £6 million. The increase reflects the contribution from acquisitions, organic growth of around 5% at constant currency and beneficial foreign exchange gains, he said.
Adjusted profit before interest and tax is expected to exceed £43m, up from £22m the previous year.
The company said the integration of its acquisition of GP Strategies is progressing well, with margin improvements and organic revenue growth above expectations, and it expects the unit to meet its margin targets. EBIT of 12% for the year.
Learning Technologies said while aware of the broader macro environment, it was better positioned than ever to support customers.
“The resilient organic growth of our divisions, coupled with the continued and exceptional improvement in margins at GP Strategies, gives the Board confidence for the full year,” said Chief Executive Jonathan Satchell.
The company did not provide any full-year expectation figures.
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