Shares in Learning Technologies (LTG) rose more than a tenth, after a trading update revealed both profit and cash had exceeded market expectations for 2017. Adjusted operating profit doubled from £7m in 2016 to at least £14m, while a net cash position of £1m represented a huge swing from net debt of £8.5m.
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Revenues will be at least £51.8m, up from £28.3m in 2016 and buoyed by “exceptional underlying organic revenue growth”. Recurring revenues also reached 39 per cent, up from 27 per cent – thanks to growth in the software segment and the first contribution from NetDimensions, bought in March 2017.
