Jonathan Satchell, chief executive of Learning Technologies Group PLC (LON:LTG) tells Proactive's Andrew Scott profit and cash generation in 2017 were significantly ahead of expectations.
Satchell says they're expecting group revenues for 2017 to be not less than ?51.8mln, up from ?28.3mln in 2016.
The strong performance was driven by organic revenue growth of more than 20% (excluding the Civil Service training contract it won in partnership with KPMG), with recurring revenues up to 39% from 27% in 2016, largely as a result of the strong growth in the group's software businesses and a maiden contribution from NetDimensions, which was acquired in March 2017.
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