Learning Technologies Group posts strong first half with margins ahead of forecasts

21st Jul 2015 11:36

(ShareCast News) - Learning Technologies Group (LTG) said its profits are in line with management expectations thanks to contract wins.Margins were higher than anticipated during the first six months of the year ended 30 June 2015 and the group believes it will achieve its revenues target of £50m by 2017.LTG won a contract in partnership with KPMG to create a capability assessment solution for a central government department. The deal is expected to provide further work during the second half of the year.Furthermore, Civil Service Learning has extended its contract and Jaguar Land Rover chose the LTG to act as strategic advisers for its learning and capability needs.Looking ahead, the group said May and June were successful months for new contract wins which will drive its order book during the second half.Chairman Andrew Brode said: "Our customers are seeing the benefits of us delivering on our mission to 'Move learning to the heart of business strategy' through our expertise and insight, tailored content delivered across multiple platforms, and real-time feedback and analysis to assist management and learners."In addition, our acquisition pipeline is particularly strong on both sides of the Atlantic."Numis analysts retained their 'buy' recommendation and 28p price target and added: "In our view, LTG has very robust operating momentum as it continues to execute its strategy of becoming the pre-eminent provider of a comprehensive and integrated range of e-learning services and technologies to corporate and government clients".Shares gained 0.25% to 23p on Tuesday at 10:55.