Mind Gym up after posting annual results

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Mind Gym up after posting annual results
Master Investor Magazine

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The price of shares in AIM-listed training company Mind Gym (LON:MIND) climbed 4.56% to 126p (as of 12:35 BST) as it posted a 14% rise in revenues for the year ended 31st March. Digital revenue growth outpaced the overall business more than fivefold, but still represents less than 10% of the firm’s overall sales. However, profits before tax dropped by 17%, largely due to costs related to the company’s IPO.

Octavius Black, the firm’s CEO commented: “We are pleased with the Group’s performance in our first financial year as a listed business.

“With people and talent issues high on corporate leaders’ agenda, this is an exciting time for a disruptive, behavioural change company with a track record of delivering lasting impact in many of the world’s largest businesses. The opportunity in a growing learning market is substantial and Mind Gym is well positioned with a clear growth strategy to help meet the worldwide demand for behavioural science-based solutions.

“The global market for Learning and Development is over $240bn – half of this in behavioural areas that we believe can be directly addressed by Mind Gym – and with growth of 9% in the last year, the market shows no sign of slowing“.

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