Learning Technologies Group PLC (AIM:LTG, OTC:LTTHF) chief executive Jonathan Satchell discusses the company's resilient performance in the challenging macroeconomic conditions of 2023 in an interview with Proactive's Stephen Gunnion.
In a trading update, the company said it expects to deliver group revenues for continuing operations of not less than £560 million, in line with consensus expectations. Adjusted EBIT for continuing operations are expected to be not less than £98 million.
Satchell emphasized LTG's strong cash generation in the latter half of 2023, with a net debt significantly better than expected, aided partly by favourable FX rates. This robust financial performance has been attributed to improved margins, especially in the GP Strategies sector after overcoming initial integration challenges.
Looking forward, Satchell expressed optimism about LTG's financial health and leverage position, enhanced by the recent sale of non-core business Lorien Engineering Solutions. This positions the company to consider various strategic options, including further debt repayment, share buybacks, or acquisitions. He noted that market valuations are becoming more attractive for potential acquisitions.