Progility Regulatory News (PGY)

28 Jul 2009 07:00

ILX GROUP PLC

CTG NEW CLIENT WINS

ILX Group plc ("ILX" or "the Company"), the AIM quoted provider of computer based business training to both the private and public sectors, announces that its operating division CTG has won considerable new business in the current financial year, including several major contracts from its competitors. The new contracts total in excess of £500,000.

The largest contract, which has been won from a competitor, is to train the graduate intake of a major European investment bank.  Revenues from this client in 2009 are expected to be £250,000, the bulk of which will be billed during August and September.

CTG has also secured a contract, estimated to be worth £100,000, with a large global investment bank for its analyst training programme, which will run through the Summer.

In addition, CTG is now the trainer of choice to two of the UK's leading private equity firms. In 2009, CTG will deliver the inaugural graduate programme for one, whilst the other has again chosen CTG to run its intern and analyst training courses.

CTG also now delivers public courses for two accounting professional bodies, with public courses for the ACCA run throughout the year, but particularly during March/April & October/November. The first course run by CTG for CIMA was in-house with public courses due to commence in the Autumn.

In a strategically important development, CTG will train the US recruits for the New York office of one of its key UK based investment banking clients, this Summer, thereby consolidating CTG's global credentials.

Ken Scott, Chief Executive, ILX Group plc commented:

"Even though the last financial year was tough, both divisions won several new accounts and ILX increased its market share. CTG, which had a particularly tough year, is now winning significant new business.

"The market remains very difficult, but the Company is in good shape and continues to win market share."

28th July 2009

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