Learning Technologies Group shares rocket as revenues rise following US acquisition
Shares in corporate education software firm Learning Technologies Group (LTG) closed 19 per cent up today after it reported robust half-year results.
Revenues jumped 60 per cent to £33.8m, while the dividend was hiked 67 per cent to stand at 15p.
The group, which creates e-learning software for the likes of Jaguar Landrover and the BBC, is expanding quickly in a growing market, and recently broke into the US market with the acquisition of Massachusetts-based PeopleFluent.
Speaking to City PM, LTG chief exec Jonathan Satchell said America offered an opportunity that was so large it was “bigger than we have capabilities or bandwidth to deliver on”.
Looking to the future, he said investors could expect “more of the same” as the firm looked to continue expanding, potentially through further acquisitions in America.
"We’re not going to broaden ourselves, we feel good about that and we’re focused on staying close to our core purpose.
"We are bombarded with interesting potential acquisitions, but also bombarded with a lot of crap."
He also said that when it came to the emerging e-learning industry, there was no other company out there doing the same thing as LTG.
"Though we compete with a lot of startups and firms like Cornerstone, there isn’t a direct comparison – we are only organisation consolidating industry the way we are.," he continued.
"We’re either mad or doing something quite interesting."