Learning Technologies Group PLC’s (LON:LTG) chairman is set to tell investors that the company is “confident of a strong recovery” in its content & services business in 2021 and that trading so far during the year has been in line with management expectations.
In remarks to be delivered at the digital learning specialist’s AGM on Wednesday, Andrew Brode said the company had “continued to make excellent progress” in 2020 by broadening its offering and addressable market significantly through several acquisitions.
READ: Learning Technologies Group forecasts strong recovery in content & services division
Into 2021, Brode said the current year had “started well” and that aside from content & services, the firm is “encouraged” by the performance of its software & platforms business which he said had been “enhanced” by recent acquisitions where integrations are “well advanced and delivering ahead of expectations”.
“This overall momentum underpins LTG's ambitious medium-term goal, to achieve c. £230mln revenue and c. £66mln adjusted [earnings] on a run-rate basis by the end of 2022. Net cash at 30 April 2021 was c. £24.8mln. Together with our bank facilities, the company has substantial capacity to pursue our exciting pipeline of further acquisition opportunities," Brode concluded.
The video conference AGM is due to be held at 11am today.
Shares in LTG were 0.5% lower at 177.3p in early deals.