Learning Technologies Group PLC (LON:LTG) has touted a “very positive” performance so far in 2019 as it reiterated its confidence in its targets for 2021.
In an update to be delivered at its AGM on Wednesday, Andrew Brode, chairman of the digital learning services firm, said targeted investment in products and services, successful cross-selling initiatives and a focus on cost control were generating momentum and a good performance in the current year.
He added that the group‘s acquisition of US recruitment software group Breezy HR for US$30mln in April would open up avenues for strong organic growth, while LTG’s product offering had been strengthened by the “well-received” launch of a new learning experience platform, Instilled, in May.
Brode said that as a result of these developments the company was confident of achieving its goal of £200mln run-rate revenues and a run-rate EBIT of at least £55mln by the end of 2021.
In late morning trading, shares in Learning Tech were 4.9% higher at 86p.
In a note to clients, analysts at Peel Hunt reiterated a ‘buy’ rating and 150p target price on the stock, saying Learning Tech “continues to be a top pick in the media sector.”
The company will release a trading update in July.
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