Tribal Group PLC
19 April 2004
For embargo until 7.00am 19 April 2004
Tribal Group plc
19 April 2004
Tribal Group plc ('Tribal Group' or the 'group')
Pre-close trading statement
Tribal Group plc ('Tribal'), the leading UK consultancy and professional support
services company, issues this statement to update shareholders on trading during
the year, prior to entering its close period. The full results for the period
ended 31 March 2004 will be announced on 22 June 2004.
The board of Tribal Group expects results to be in line with expectations.
Turnover for the year exceeded £180m, an increase of over 70% on the previous
year.
Cash generation was strong with operating profit to cash conversion in excess of
100%. Net debt at the year end was approximately £42 million.
The group made good progress across all of its divisions. In particular, the
parts of the business where we had experienced some softness in trading
performed well in the last quarter.
Mercury Health, the group's healthcare delivery business, is preferred bidder on
a £190 million contract to design, build and manage a regional network of
treatment centres in the south east of England, as part of the Government's
Independent Sector Treatment Centre initiative. Commercial and contractual
negotiations are now at an advanced stage and it is expected that contracts will
be signed and funding arrangements finalised during the first quarter of the
current financial year.
As mentioned in the February trading update, the group has focused on, and made
good progress regarding, its investment in developing its infrastructure; in
further strengthening its central and divisional management; and in accelerating
its integration programme.
Looking ahead, the board remains confident in the group's prospects for 2005. A
fuller statement will be made in the announcement of the group's preliminary
results.
The company will be holding an institutional briefing meeting on 20 April 2004.
End
For further information contact:
Henry Pitman, Chief Executive, Tribal Group plc Tel: 01285 886020
Simon Lawton, Group Finance Director, Tribal Group plc Tel: 01285 886020
Editors' note:
Tribal Group plc provides a range of consultancy and support services to the UK
public sector. The group's core markets are in education; local government,
housing and regeneration; health and social care; and central government. The
group employs 1,800 staff in 60 locations in the UK. Tribal is quoted on the
London Stock Exchange (TRB.L) with forecast revenues for 2005 of over £200
million.
Links: Tribal Group plc website: www.tribalgroup.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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