Tribal Group PLC
17 January 2008
Tribal Group plc
17 January 2008
Tribal Group plc
Trading Update Statement
Tribal Group plc ('Tribal' or the 'Group') will announce its results for the
nine months to 31 December 2007 on 26 March 2008. The results will be for a
nine month period reflecting the change of Tribal's year end to 31 December, as
announced previously.
The encouraging progress reported in the Interim results on 21 November 2007 has
continued.The Group therefore expects profits and earnings to be substantially
ahead of the corresponding nine month period in 2006, pro forma profit before
tax for the year ended 31 December 2007 to be towards the top end of market
forecasts and pro forma earnings per share for the year to be ahead of
expectations.
Cash generation in the last three months of the period was better than expected
and net debt at the year end was less than £8m.
Tribal has continued to focus on its core activities of providing a range of
consulting, support and delivery services that improve the delivery of public
services. We have seen good demand for our services in the past three months and
an increasing number of opportunities for us to supply integrated solutions to
our clients.
Our Education business has had a strong end to the period with good performances
across Software, Learning & Publishing and Services. Consulting has also
continued to perform well in the period, particularly in Housing & Regeneration,
Central Government and Health. We have also seen the development of a good
pipeline of opportunities for our recently established Health Commissioning
business. Each of our support services businesses has traded in line with our
expectations, with Architectural Design and Communications continuing their
good performances and Resourcing seeing an improvement in its operating margins.
Given the strength of the balance sheet, the Board believes that it is now
appropriate to make an additional equity return in the form of an on-market
share buy-back. Accordingly, Tribal's brokers, Hoare Govett, will be making
selective purchases in the market with the intention of acquiring up to 5% of
the issued share capital during 2008.
Tribal enters its new financial year with approximately 40% of 2008 planned
revenue already committed (2007: 29%) and with total committed income of
£124m (2007: £108m) an increase of 15 per cent. We continue to see good
opportunities for growth across our markets and the Board is confident about
Tribal's prospects in the current year and beyond.
End
For further information, please contact:
Tribal Group plc Telephone: 020 7323 7110
Peter Martin, Chief Executive
Simon Lawton, Group Finance Director
Maitland Telephone: 020 7379 5151
Colin Browne
Anthony Silverman
Editors' note:
Tribal provides a range of consultancy, support and delivery services focused
on improving the delivery of public services in the UK. Our core markets are in
education, health, housing and regeneration, central government and local
government. Tribal employs approximately 2,000 staff and its shares are
quoted on the London Stock Exchange (TRB).
Links: Tribal Group plc website: www.tribalgroup.co.uk
This Statement has been prepared for and is addressed only to our shareholders
as a whole and should not be relied on by any other party or for any other
purpose. Tribal, its directors, employees, agents or advisers do not accept or
assume responsibility to any other person to whom this Statement is shown or
into whose hands it may come and any such responsibility or liability is
expressly disclaimed.
This Statement may contain forward-looking statements. Any forward-looking
statement has been made by the directors in good faith based on the information
available to them up to the time of approval of this Statement and should be
treated with caution due to the inherent uncertainties, including both economic
and business risk factors, underlying such forward-looking information. To the
extent that this Statement contains any statement dealing with any time after
the date of its preparation, such statement is merely predictive and speculative
as it relates to events and circumstances which are yet to occur and therefore
the facts stated and views expressed may change. Tribal undertakes no obligation
to update these forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
SMWSASEIF
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.