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Learning Technologies reinstates guidance, dividends; acquires eCreators for at least A$5.5m

By BFN News | 08:44 AM | Tuesday 22 September, 2020

Digital learning services provider Learning Technologies reinstated guidance and dividends, and forecast annual performance to meet expectations. The company also reported a fall in profit on lower margins. For the six months ended 30 June 2020, pre-tax profit fell to £4.1m from £6.8m on-year, while revenue increased 2% to £64.1m. Adjusted earnings before interest and taxes (EBIT) margin fell to 28.7% from 31.1%. The company said it intended to reinstate the 2019 final dividend of 0.50p, in addition to a proposed interim dividend of 0.25p. The company reconfirmed its run-rate target of about £230m revenues and and £66m EBIT by end 2022. In a separate statement, Learning Technologies said it had agreed to acquire eCreators for an initial A$5.5m. Australia-based eCreators is a commercial provider of Moodle, the open-source learning management system. The deal also included earoout provisions of A$6.5m payable to eCreators for years ending 31st December 2021, 2022 and 2023. At 8:44am: (LON:LTG) Learning Technologies Group PLC share price was +2.55p at 140.55p Story provided by

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