Learning Technologies Group said it was taking a cautious view of prospects for the year ahead due to the current macroeconomic uncertainty.
“We expect 2024 revenues will be in line with 2023 (after disposals) while continuing to drive growth in Adjusted EBIT,” the e-learning and marketing group said in a statement with its annual results.
“We remain reassured by the strong foundations we have built, our effective Go-to-Market strategy, ongoing product innovation, coupled with the active management of our extensive portfolio,” it added.
In the year to end December, profits rose by 13% to £45.6 million with revenues down 4% at £562 million and underlying profit [adjusted EBIT] 1% lower at £98.5 million.
Cashflow was a record, it added, with the dividend for the year increased by 5% to 1.21p.
Jonathan Satchell, chief executive, commented: "LTG has delivered a resilient performance in 2023 against the macroeconomic backdrop.
“Looking ahead, we remain confident in the outlook over the medium term as the structural drivers of the learning and development industry remain intact with LTG offering one of the most comprehensive ranges of learning and talent services and technologies within our sector.
“I am also excited about our AI innovations which will enhance our productivity and create additional revenue opportunities with our clients.”