Q1 Trading Update (0185L)
July 26 2011 - 1:00AM
UK Regulatory
TIDMILX
RNS Number : 0185L
ILX Group PLC
26 July 2011
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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