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Learning Technologies Group PLC (AIM:LTG,OTC:LTTHF) chief executive Jonathan Satchell speaks to Thomas Warnerfrom Proactive after the workplace talent development company releasedits interim results for the six months to 31 June 2023 Satchelprovides an overview of the company's performance over the periodas well as its future outlook.
Thefirm reported £285 million in revenue for the first half, a 2.5%increase from the previous year. However, challenges arose fromintegrating their LEO business into the GP Strategies contentbusiness, which Satchell suggests may ultimately have cost anestimated $80 million of EBIT.
Despite these challenges, Satchell expresses confidence in thecompany's resilience. He says the company's performance duringthe second half was always going to hinge on the GPLX turnaround,adding that August's figures show a strong recovery and he feels"much more comfortable about the second half."
Whilefacing softness in markets like China and Japan, the company remainsoptimistic about meeting analyst expectations for the full year. Healso says that as they approach their 10th anniversary, the firm isbeing selective about acquisitions and has announced a voluntary debtrepayment of $25 million. Satchell also highlighted their focus onintegrating AI thoughtfully, ensuring they don't merely followtrends but leverage technology effectively.
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