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Learning Technologies reports steady performance amid economic challenges [Video]

Categories
Small Business Growth

Learning Technologies Group PLC (AIM:LTG, OTC:LTTHF) chief executive Jonathan Satchell takes Proactive’s Stephen Gunnion through the company’s 2023 financial results, which reveal a slight revenue decline but rising profitability. Despite the economic challenges, the company maintained strong cash flow and increased its dividend by 5% to 1.2 pence.

Satchell highlighted the resilience of the company’s long-term and SaaS contracts, which helped sustain performance amidst reduced corporate spending on employee development.

Operational achievements included retaining all client contracts above $10 million. The company saw some revenue declines due to reduced discretionary spending but reported growth in US government contracts and expansions in Latin America and the Middle East.

Another highlight was GP Strategies, which has more than doubled profits since it was acquired in 2021, benefiting from a commercial transformation program that improved margins without impacting customer service.

Satchell also noted the sale of Lorien Engineering Solutions, aligning with the company’s focus on learning and talent development. …

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