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19 Jul 2010 07:00
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ILX Group PLC
("ILX" or the "Group")
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Trading Update
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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.
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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.
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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 Β£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.
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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.
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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.
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Ken Scott, Chief Executive, ILX Group plc commented:
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"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.Β
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"The Board is very happy with the Company's performance in the first quarter and is optimistic regarding the prospects for the full year."
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19Β July 2010
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For further information, please contact:
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ILX Group plc |
020 7751 7100 |
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Ken Scott, Chief Executive |
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FinnCap |
020 7600 1658 |
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Marc Young - Corporate Finance Tom Jenkins - Corporate Broking Β |
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Lothbury Financial Services Limited |
020 7868 2567 |
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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:
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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.
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2. Banking & Finance provides instructor-led training, workshops and related services, principally to the investment banking community.
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ENDS
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