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Learning Technologies profit falls on lower margins
StockMarketWire.com
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Digital learning services group Learning Technologies reported a fall in profit as lower margins weighed on performance.
For the twelve months ended 31 December 2020, pre-tax profit fell 6% to £12.5 million as revenue rose 2% to £132.3 million.
'Adjusted EBIT margins were lower at 32.2% versus 35.6% in 2019 due partly to acquisitions in the year delivering lower margins in the short-term and a greater proportion of central overheads allocated to the division based on share of group revenue,' the company said.
The company proposed an unchanged dividend of 50 pence per share for the year.
'The current financial year has started well and in-line with management expectations,' the company said.
At 9:30am: (LON:LTG) Learning Technologies Group PLC share price was 0p at 130.1p
Story provided by StockMarketWire.com
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