Learning Technologies Group (LTG)

Business description

Learning Technologies Group is a broad-based e-learning technology business, providing a range of software and services to both private enterprises and the public sector.

Stock data

Market cap.£307.1m
Last close54.00p
High / Low (52 weeks)55.0p / 30.0p
Stock market listingLN
Forecast net debt (£m)6.9
Forecast gearing ratio (%)9
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual16.113.780.0
Relative *17.116.268.4

* % Relative to local index

Other companies in sector Show

1Spatial 7digital Group
accesso Technology Group ADVA Optical Networking
Advanced Computer Software Group Advanced Micro Devices
AIXTRON Algomizer
All for One Steeb AG Allocate Software
Allot Communications Alpha and Omega Semiconductor
Alphapoint Technology Inc Amazon
Amino Technologies ANADIGICS
Arria NLG artec technologies
AsiaCell AT&S Austria Technologie & Systemtechnik
Beta Systems Blancco Technology Group
blinkx blur Group
Brady Bulletproof Group
Carclo Catapult Group International
CENIT CentralNic
Cerillion CityFibre Infrastructure Holdings
Cliq Digital CML Microsystems
CoAssets Comptel
Covata Craneware
CREALOGIX Cypress Semiconductor
DATAGROUP DDD Group
Dillistone Group door2door
dotDigital DSP Group
e2v technologies Eagle Eye
Eckoh Elmos Semiconductor
EMIS Group Emulex
Endace EnWave Corporation
eServGlobal Esker
Evolving Systems EVR Holdings PLC
Expert System Facebook
Featurespace FFastFill
FinTech Group First Derivatives
First Sensor Focus Solutions Group
Foresight Autonomous Holdings FreeAgent
Freelancer Fusionex International
Gamma Communications GB Group
GBST Holdings GeoOp
GFT Globo
GO internet Himax Technologies
Hrvatski Telekom ifa systems
ikeGPS Group Infinera
Inmarsat Innovation Group
InVision IQE
IS Solutions ISRA VISION
IXYS Jenoptik
K3 Business Technology Kainos
Kalibrate Technologies Keywords Studios
LRAD Corporation Magix
Manpower Software Manx Telecom
Manz Maxima Holdings
Medicsight Mensch & Maschine Software
Mercia Technologies Micro Focus International
Micron Technology Migme
Mobile ecosystems Monitise
Montage Technology Morse
mVISE My Net Fone
Nano Dimension Nanoco Group
nearmap Nemetschek
Netcall NetDimensions
Netflix Nexus Management
O2Micro International OMG
OmniVision Technologies Orion Health Group
Osirium Technologies Outsourcery
Panorama Synergy Pantaleon Entertainment
Patsystems Paysafe Group
Pebble Beach Systems Group Pericom Semiconductor
Phitek Piteco
PLX Technology Pointer Telocation
Pricer Prodware
PSI Pure Wafer
QSC Real Estate Investar Group
REALTECH Redflex Holdings
Redstone Reed Elsevier
Reply SpA Results.com
Rex Bionics Rheinmetall
RM S&T
SCISYS Secunet
Seeing Machines Sepura
Serko Seven Principles
Siemens Sigma Designs
Silicom Silicon Image
SimiGon SinnerSchrader
SITO Mobile SLI Systems
Smartpay Holdings SNP Schneider-Neureither & Partner
Software AG Solera
Spansion Spirent Communications
SQS Software Quality Systems AG Stadium Group
StatPro Group Store Electronic Systems
Straker Translations SuperCom
Synchronica Taptica
Technology sector TerraNet
Texas Instruments The Marketing Group
The Naga Group Thin Film Electronics
Thoughtonomy Tikit Group
Toumaz Track Group
TXT e-solutions TZ Limited
Ubisense Group UMT United Mobility Technology
United Power Technology VASCO Data Security
Vectron Systems Virtual Piggy
Vista Group International Vitec
Vizrt VMob Group
WANdisco Webinar
Wincor Nixdorf WorkPlace Systems International
XP Power Xploite
Xplore Technologies Corp YuuZoo

Investment summary

Learning Technologies Group (LTG) announced a strong set of H1 results, incorporating c 18% underlying organic growth. LEO, Rustici, Preloaded and gomo have been performing exceptionally well and the numbers were slightly ahead of management plans. Consequently, we have upgraded our forecasts, with profits getting an additional boost from the incorporation of LTG accounting policies at NetDimensions. Given the attractive growth drivers, the P/E of c 24x our FY18e EPS is not demanding and our DCF analysis indicates upside potential of 31% to 87%.

Last updated on 19/09/2017

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2015A 19.9 4.3 3.9 0.76 71.1 42.6
2016A 28.3 7.7 6.4 1.18 45.8 74.8
2017E 50.5 13.4 11.1 1.65 32.7 38.6
2018E 58.0 18.0 15.5 2.17 24.9 20.9

Last updated on 19/09/2017

Latest video

Executive interview - Learning Technologies Group

Key management

Jonathan Satchell, CEO
Neil Elton, Group Finance Director
Andrew Brode, Non-executive Chairman

Company address

5th Floor Sherbourne House,
119-121 Cannon Street
London
EC4N 5AT
United Kingdom
+44(0)207 402 1554
View website