Learning Technologies Group PLC (AIM:LTG) reported revenue growth of 241% in the first six months and said it remains optimistic it will perform ahead of analysts' consensus for the year despite challenges in the macro environment.
Revenues rose to £281.8mln for the six months to 30 June, from £82.6mln in H1 2021, the digital learning firm said in a statement.
The company anticipates the robust performance to continue into the second half, and said it “expects to deliver ahead of company complied analysts’ consensus.”
“We remain confident in LTG's resilience as we continue to deliver growth despite the wider macro environment,” said chief executive Jonathan Satchell.
“LTG is in a strong position as more organisations focus on recruiting, training, motivating, and retaining the best talent.”
Satchell added that performance was supported by resilient growth across the group, benefitting from “well embedded commercial discipline".
GP Strategies, a management consultant acquired by Learning Technologies last October, also experienced stronger-than-expected organic growth, the company highlighted.
Learning Technologies increased its dividend per share to 0.45p, up 50%.
It reported statutory profit before tax at £18.5mln, up 402%, whilst earnings (EBIT) were stated at £44.1mln, up 100% from H1 2021.
Cash generated from operations was reported at £26.8mln, up from £19.9mln, whilst net debt was marked at £145.3mln, as of 30 June.
It ended the period with £71.9mln of gross cash.