E-learning specialist Learning Technologies Group (LON:LTG) swung to a first half profit and is on the hunt for more deals.
Andrew Brode, chairman, said: “We continue to actively pursue acquisition opportunities on both sides of the Atlantic.”
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.
Brode said: “We are now reaping the benefits from the acquisitions we have made, providing us with scale and a greater breadth of service offerings to a broader client base.”
Sales for the six months to June 30 rose almost 30% to £8.4mln while the company made a pre-tax profit of £209,000 compared to a £127,000 loss a year ago.
The latest version of its Cloud-based learning tool, gomo 3.0 saw high renewal rates at the end of its first year on the market, with clients including Nike, Burberry, Xerox and Santander.
“We have a strong order book and an acquisition pipeline to progress our strategy of becoming a £50mln revenue business,” Brode added.
After the period, LTG ventured into the governance, risk and compliance (GRC) market with the acquisition of Eukleia.