The Learning Technologies Group PLC Board is committed to a progressive dividend policy. On 25 June 2021, the Company paid a final dividend of 0.50 pence per share, giving a total dividend for 2020 of 0.75 pence per share, in line with the prior year. Given its confidence in the continuing success of the Group, the Board to announce it has approved an interim dividend of 0.30 pence per share (2020: 0.25 pence per share), representing a 20% increase. This dividend will be paid on 29th October 2021 to all shareholders on the register as at 8th October 2021.
Other financial highlights include:
● Revenue up 29% to £82.6m (H1 2020: £64.1m) including first time contributions from Reflektive, PDT Global and Bridge
● Organic revenue growth rate of 7% includes strong recovery in professional services
o Software & Platforms: 5% organic growth; particularly strong growth at Rustici and Breezy
o Content & Services: 14% organic growth; on track to return to 2019 levels as expected
● Recurring revenues at 77% (H1 2020: 81%) as C&S revenues recover
● Adjusted EBIT increased 20% to £22.0m (H1 2020: £18.4m)
● EBIT margin down to 26.7% (H1 2020: 28.7%) primarily due to currency headwinds and short-term losses from Reflektive and Bridge following acquisition in Q1 2021; expect to return to guided margin levels for FY 2021
● Operating cash conversion at 79% (H1 2020: 100%; FY 2020: 85%)
● Net cash of £24.9 million (FY 2020 £70.2 million) after deployment of £52.1 million for the three acquisitions made during the first half
