TIDMILX
RNS Number : 9500A
ILX Group PLC
19 October 2009
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ILX Group plc
Trading Update
New Contract awarded by Virgin Media
ILX Group plc (the "Company"), the AIM quoted provider of e-learning software
and business training to both the private and public sectors, announces a
trading update regarding the six months ended 30 September 2009.
The Board is pleased to report a good first half of the year and we expect to
meet the full year market forecasts.
Set against a difficult macro economic backdrop our Best Practice division has
continued to perform very well. Our Banking & Finance division (formerly
Corporate Training Group) has responded well to the unprecedented market
conditions in its sector and, as previously announced, has gained market share.
The division has been restructured in response to the contraction of its market
and is well placed for an upturn in graduate recruitment amongst the investment
banks.
The e-learning business has grown strongly in this first half of the year and as
a result we are seeing continued margin improvement.
We won several new contracts in the period, including a significant contract in
Mexico (announced on 23 September 2009). The most recent major contract is worth
GBP100,000 and is with a large media company. Under the terms of the agreement,
the company has a licence to use ILX's e-learning suite for internal training.
Ken Scott, Chief Executive, ILX Group plc commented:
"We are pleased with the first half of the year. We now look to build upon this
and to continue to develop the business internationally with a particular
emphasis on the success that we are having with our e-learning offering.
"Within the UK we continue to increase our market share and upon this foundation
we intend to build a business with international reach."
19th October 2009
For further information, please contact:
+------------------------------------+------------------------------------+
| ILX Group plc | 020 7751 7100 |
+------------------------------------+------------------------------------+
| Ken Scott, Chief Executive | |
+------------------------------------+------------------------------------+
| FinnCap | 020 7600 1658 |
+------------------------------------+------------------------------------+
| Marc Young | |
+------------------------------------+------------------------------------+
| Lothbury Financial | 020 7011 9411 |
+------------------------------------+------------------------------------+
| Michael Padley / Chris Price | |
+------------------------------------+------------------------------------+
Editors' Notes
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.
This information is provided by RNS
The company news service from the London Stock Exchange
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