9 Oct 2008 07:00
FOR RELEASE at 07.00 on 9 October 2008
ILX GROUP PLC (ILX/L) ("The Company")
The AIM quoted business education and training company
Pre-Close Trading Update
ILX Group plc (the "Company"), the AIM quoted business education and training specialist, is pleased to report revenue growth across the group for the six months to 30 September 2008. The Company intends to report its interim results during the week commencing 17 November 2008, which are expected to be in line with market forecasts. The Company will provide a full update on trading at the time of the release of its interim results.
The Corporate Training Group ("CTG") division, which services the financial sector, has seen revenues in line with last year despite the market turmoil. The division is actively exploring opportunities to increase its ability to deliver a global training service to its larger clients.
The Best Practice division has benefited from its investment in quality people and from the continued robustness of its core PRINCE2 and ITIL markets. The division has gained market share during this period.
The Company drew down the last tranche of its term debt as planned in June 2008 in order to meet final commitments to the earn-out payments due on the acquisition of CTG. The Company's exposure to LIBOR is fully hedged and its interest cover is in excess of 5 times.
Ken Scott, Chief Executive, commented:
"Despite strong trading so far, we are very aware that the current business climate is one of considerable uncertainty. We believe however, that with our broad and varied customer base and our quality people we are well placed to navigate our way through these difficult times. "
Enquiries:
| ILX Group plc www.ilxgroup.com Ken Scott / Jon Pickles | 020 7751 7100 |
| Adventis Financial PR Tarquin Edwards / Chris Steele | 020 7034 4758/4759 |
| Arbuthnot Securities (Nominated Adviser) Tom Griffiths | 020 7012 2000 |
Editor's Notes
ILX Group plc is a leading provider of business training to the private and public sectors, delivered through Computer Based Training (CBT), e-Learning, instructor-led courses/workshops.
ILX Group now trades through two divisions: