Learning Technologies announces 'ambitious' targets at investor event

UK-based holding company Learning Technologies announced an "ambitious target" at its capital markets event on Tuesday.

When the AIM-listed firm entered the market in 2013 it sought to achieve run-rate revenues of £50m and EBITDA margins of 20% by the end of 2018, but Learning Technologies' 2017 interim results revealed that the company had hit targets twelve months ahead of schedule.

However, as part of Tuesday's event, the e-learning group outlined a plan focused on doubling run-rate revenues to £100m with an EBITDA in excess of £25m by the end of 2020.

Learning Technologies said it planned to achieve the new objectives through a combination of strong organic growth paired with strategic acquisitions that complemented its current business model.

The group also said it intended to expand further into the North American and European markets, taking some of its focus away from its UK business.

Jonathan Satchell, chief executive said, "We are delighted with the progress that LTG has made, growing a business with revenues of £7.5 million and a market capitalisation of less than £20 million in late 2013 to run-rate revenues of £50 million, strong EBIT margins, and a market capitalisation in excess of £300 million in only four years."

"The new strategic objectives announced today demonstrate our undiminished ambition and intent to become the global leader and disrupter in technology-driven workplace learning," he added.

As of 1500 BST, shares had gained 7.51% to 56.97p.