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Learning Technology guides revenue, earnings above market forecasts on strong demand
StockMarketWire.com
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Digital learning platform Learning Technology said it expected annual revenue and earnings to be ahead of market expectations following a pandemic-led rise in demand for digital learning and talent management.
Revenue was forecast not less than £131.0 million, up from £130.1 million year-on-year, while recurring revenue growth increased to about 80% from 74%.
The uptick in recurring revenue was driven by the ongoing performance in the software & platforms division and the expansion of LTG's business in open-source learning management systems through the acquisitions of Open LMS, eCreators and eThink Education.
Adjusted EBIT was expected to be ahead of consensus and not less than £40.0 million, up from £41.0 million.
LTG was expected to publish full year results on 25 March 2021.
Story provided by StockMarketWire.com
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