E-learning group AdVal said it had an order book of £2.2m with a 'record number of prospects in the pipeline' as it posted figures for the year to 31 March. Sales were boosted by 44% to £4.73m and pre-tax losses came in at £180,732 after exceptional costs. The board decided to write off £388,119 of software development costs so that before exceptionals, AdVal actually made a pre-tax profit of £207,387. Earnings before interest, tax and depreciation soared 92% to £583,000. Sales were boosted by its joint venture company with Pearson FT Knowledge. After taking a stake in 'connect2law', AdVal bought out the other shareholders in favour of an exclusive deal with The College of Law. Acquisitions after the year end included Testline, which provides software testing and helpline services for e-learning programmes and IT infrastructure, and Terra Nova Media, which provides internet services for businesses. Guy Peters of Old Mutual Securities explained that for the current year, analysts will be looking for sales of £7.6m, a pre-exceptional pre-tax profit of £800,000 and earnings of 2.4p. This puts the company on a forward p/e of 19.2, slightly lower than the 22.91 sector average.