Learning Technologies Group "much more comfortable about the second half"
London, UK
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September 29, 2023 03:00 AM Eastern Daylight Time
Learning Technologies Group PLC (AIM:LTG, OTC:LTTHF) chief executive Jonathan Satchell speaks to Thomas Warner from Proactive after the workplace talent development company released its interim results for the six months to 31 June 2023 Satchel provides an overview of the company's performance over the period as well as its future outlook.
The firm reported £285 million in revenue for the first half, a 2.5% increase from the previous year. However, challenges arose from integrating their LEO business into the GP Strategies content business, which Satchell suggests may ultimately have cost an estimated $80 million of EBIT.
Despite these challenges, Satchell expresses confidence in the company's resilience. He says the company's performance during the second half was always going to hinge on the GPLX turnaround, adding that August's figures show a strong recovery and he feels "much more comfortable about the second half."
While facing softness in markets like China and Japan, the company remains optimistic about meeting analyst expectations for the full year. He also says that as they approach their 10th anniversary, the firm is being selective about acquisitions and has announced a voluntary debt repayment of $25 million. Satchell also highlighted their focus on integrating AI thoughtfully, ensuring they don't merely follow trends but leverage technology effectively.
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