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Learning Technologies (LON:LTG) expects to make more acquisitions after two successful 2014 deals boosted first half trading.
“Our acquisition pipeline is particularly strong on both sides of the Atlantic,” Andrew Brode, chairman, said.
In a trading update, the e-learning specialist added that margins in the past six months had been better than expected due to the benefits from the LINE and Preloaded acquisitions coming through sooner than expected.
The second half order book had also been enhanced by a strong May and June, which saw a number of contract wins.
“In the first six months of 2015 LTG has continued to build on the success of the prior year, delivering on its strategy of consolidating the fragmented e-learning industry” Brode said.
Last year, LTG acquired LINE Communications, merging it with its main business Epic to form LEO Learning, the UK market leader in e-learning custom content.
The company said today that Civil Service Learning, a LEO customer, had extended its contract for a further year, whilst Jaguar Land Rover has procured LEO to act as strategic advisers for its learning and capability needs.
Numis Securities said: “In our view, LTG has very robust operating momentum as it continues to execute its strategy of becoming the pre-eminent provider of a comprehensive and integrated range of e-learning services and technologies to corporate and government clients.”
The broker retained its ‘buy’ rating and has a 28p target price for its shares, which were 1.3% down to 22.4p today.