19 Jul 2010 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 business training, is pleased to provide an update on trading for the year to date.
The growth seen at the end of the last financial year has continued, with Q1 revenues and profits across the Group substantially ahead of last year.
The newly formed International Division has generated revenue growth of 60% in the quarter. The Australian operation has performed particularly well generating nearly AU$0.5 million of sales, a four-fold increase over the same period last year. In Oman, the Company has won a contract valued at £200,000 for delivery during the current financial year. The international division still accounts for just 20% of Group revenues but its impressive growth demonstrates the opportunities to which the Group is exposed outside of the UK.
In the UK the Best Practice Division continues to consolidate its market position, with revenue growth of 10% and increased operating margins in the first quarter.
The Finance Training division is benefiting from a reduced fixed cost base and continues to win new e-learning contracts plus a busy summer programme for the second quarter.
Ken Scott, Chief Executive, ILX Group plc commented:
"The market remains very competitive but the Board is confident of achieving a successful outcome for the year: the International Division is expanding rapidly, Best Practice continues to build upon its market leadership and the Finance Division is operating in line with expectations.
"The Board is very happy with the Company's performance in the first quarter and is optimistic regarding the prospects for the full year."
19 July 2010
For further information, please contact:
| ILX Group plc | 020 7751 7100 |
| Ken Scott, Chief Executive |
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| FinnCap | 020 7600 1658 |
| Marc Young - Corporate Finance Tom Jenkins - Corporate Broking
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| Lothbury Financial Services Limited | 020 7868 2567 |
| Michael Padley / Libby Moss |
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Editors' Note
ILX Group plc (www.ilxgroup.com) is a leading provider of vocational training to the private and public sectors, delivered through e-learning, and instructor-led courses/workshops, and trades through two divisions:
1. Best Practice provides e-learning, instructor-led training and implementation consultancy principally to the programme and project management, IT service management and business finance markets.
2. Banking & Finance provides instructor-led training, workshops and related services, principally to the investment banking community.
ENDS