Learning Technologies Group PLC (AIM:LTG) said it delivered a "strong performance" in the first half of 2022, despite a "challenging macroeconomic environment".
The provider of organisational and learning technologies said revenue for the six months to 30 June 2022 is expected to be at least £280mln, up from £82.6mln for the same six-month period last year, with adjusted underlying earnings forecast to be greater than £43mln, almost double the £22mln recorded in the first half of 2021.
The growth in revenue reflects the “contribution of acquisitions, roughly 5% organic growth on a constant currency basis and the benefit of foreign exchange gains”, the company said in a trading statement.
GP Strategies, the provider of workforce learning solutions which was acquired last October, is progressing with margin improvements and organic revenue growth ahead of expectations, it added.
Net debt stood at £145.3mln as at end-June, compared to net cash of £24.9mln 12 months earlier, although this was prior to the acquisition of GP.
Half-year results will be published on 22 September 2022.