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Learning Technologies Group PLC on Tuesday said it expects earnings for the first half of 2022 to almost double on top of sharp revenue growth following the acquisition of GP Strategies.
For the six months ended June 30, the London-based digital learning and talent management company expects revenue to be no less than £280 million, more than doubled from £82.6 million the same period a year prior due to contributions from the acquisition of US management consulting firm GP Strategies, and organic growth of around 5% coupled with the benefit of foreign exchange gains.
As a result, the group expects adjusted earnings before interest and tax for the period to be at least £43 million, a 95% increase from £22 million a year before.
Learning Technologies said GP Strategies has integrated well with margin improvements and organic growth ahead of expectations. GP strategies is expected to achieve an Ebit margin of 12% for the year.
Chief Executive Officer Jonathan Satchell said: ‘I am delighted the momentum in our business has continued since the start of the year. Our transformational acquisition of GP Strategies is delivering strong returns and offers new opportunities for the group as an enlarged business. The resilient organic growth across our divisions, alongside the continuing outstanding margin improvement in GP Strategies, provides the board with confidence for the full year.’
Learning Technologies will publish its interim results on September 22.
Shares in Learning Technologies were up 3.0% at 133.25 pence in London on Tuesday.
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