Progility Regulatory News (PGY)

24 Jan 2005 07:00

ILX Group PLC24 January 2005 ILX Group plc Trading Update ILX Group plc ('ILX Group'), the AIM quoted training company, made the followingstatement regarding third quarter trading: We are pleased to announce an encouraging third quarter. In the 3 months to 31December 2005, ILX Group generated turnover of £1.16 million (6 months to 30September: £1.18 million) and an operating profit of £187,000 (6 months to 30September: £24,000). This figure is in line with internal budgets and gives theBoard confidence in meeting market expectations for the year ended 31 March2005. Continued progress is being made across all divisions of ILX Group, includingthe recent acquisitions: • The Intellexis division continues to recover, with the third quartershowing increased revenues and a net profit margin in excess of 30%; • Key Skills continues to perform well with like-for-like sales growthin excess of 50%. This has been driven by the investment in the sales force andby the successful launch of Prince2Practitioner and ITIL products; • Computa-Friendly, acquired in October 2004, made its first full threemonths' contribution; • Mindscope, acquired in December 2004, has not yet made a significantcontribution to operating profit but has won a number of high value contractsfor delivery during 2005. It is expected to make a strong contribution in thefinal quarter. Ken Scott, Chief Executive, said, "We are very pleased with the performance of ILX Group in the third quarterwhich is beginning to reflect the potential we have for generating qualityearnings over a full year. Sales for ILX Group have always been heavily weighted towards our year end andwe expect to see the same trend accelerate. The full benefits of theimprovements being driven across the Group, in addition to a full contributionfrom all acquisitions, will be seen in the fourth quarter. Our third quarter performance provides a base upon which the company cancontinue to grow and so we are confident that our 2005 results will be in linewith expectations." For further information, please contact: ILX Group plc Binns & Co PR LtdKen Scott Paul McManusTel: 020 7371 4444 Tel: 020 7153 1485 Mob: 07980 541 893 This information is provided by RNS The company news service from the London Stock Exchange