26 Jul 2011 07:00
ILX Group PLC
("ILX" or the "Group")
Trading Update
ILX Group plc (AIM: ILX), the AIM quoted provider of e-learning software and consulting services, is pleased to announcethat the pattern of growth set towards the end of the last financial year has continued. Overall revenues and profitability in the first quarter of the current financial year are ahead of the same period last year.
Although UK revenues are down compared to last year, this has been more than off-set by the continued growth in the International Division which has seen sales growth of 90% year on year, driven by the Australian office in particular.
The UK has been affected by the prevailing economic climate but the Board is confident that the division will meet its revenue targets for the full year following recent contract wins that are expected to bear fruits in the second half of the current financial year.
Ken Scott, Chief Executive, ILX Group commented:
"Despite the tough conditions being experienced in the UK market, the Company is continuing to grow and to drive margin improvement.
"In the UK revenues are down on the comparable period last year but we continue to win business, and to have a strong pipeline. Overseas we continue to see sharp growth in both revenues and profitability.
"During the quarter, the UK division has won the largest contract in its history and International has won a major contract with the New Zealand Defence Force, both of which auger well for the future. We also believe that the change in sector classification to Software, reflecting our scalable business model based on our intellectual property, will in time lead to a re-rating that will benefit shareholders."
26th July 2011
For further information, please contact:
ILX Group plc | 020 7751 7100 |
Ken Scott, Chief Executive | |
FinnCap | 020 7600 1658 |
Marc Young, Charlotte Stranner - Corporate Finance Victoria Bates, Joanna Weaving - Corporate Broking
| |
Lothbury Financial Services Limited | 020 7868 2010 |
Michael Padley / Chris Roberts |
Editors' Note
ILX Group plc (www.ilxgroup.com) is a leading provider of Best Practice learning products and services to the private and public sectors. ILX Group offers a variety of accredited technology led courses through a blend of traditional classroom, workshops & live forums and across all multi-media platforms: e-learning, social learning & mobile learning. It has developed its own proprietary software and is the market leader in PRINCE2. It trades through two divisions:
1. Best Practiceprovides e-learning, instructor-led learning and implementation consulting principally to the programme and project management, IT service management and business finance markets.
2. International was formed in late 2009 and provides products and services to overseas markets, including Australia, New Zealand, Middle East, US as well as the UK and across Europe.
ENDS