Tribal Group PLC
19 April 2005
Tribal Group PLC
19 April 2005
Tribal Group plc ('Tribal Group' or the 'group')
Pre-close trading statement
Tribal Group, the leading UK consultancy and professional support services
company, issues this statement as an update on trading during the year ended 31
March 2005, prior to entering its close period. The full results for the year
will be announced on 21 June 2004.
The board of Tribal Group expects adjusted profit before tax to be higher than
the £17.5 million indicated at the time of the interim results in November.
Turnover for the year exceeded £228m, an increase of over 23% on the previous
year; underlying organic revenue growth was 5%.
Cash generation in H2 was good, with net debt at the year end approximately £53
million.
Mercury Health, the group's healthcare delivery business, signed a £214 million
contract in December 2004 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. The £51 million funding for this
contract is in place. The implementation programme is proceeding well and the
first centre is expected to open in August 2005.
The group continues to focus on organic growth. It has made good progress with
its integration process and the establishment of a divisional operating
structure is now completed. The benefits of these initiatives are starting to
flow through, with improving operational performance and an increasing number of
contract wins. We start the year with over 35% of our gross revenue committed.
These developments give the board confidence about the group's prospects in
2006, although it is anticipated that the traditional split between H1 and H2
will be more pronounced. A fuller statement will be made in the announcement of
the group's preliminary results.
Tribal Group will be holding an institutional briefing meeting on 19 April 2005,
at which time the group will also be providing a detailed briefing on Mercury
Health and the Strategic Alliance with HSS, announced yesterday. Copies of the
presentations given at these meetings will be available on the group's website.
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
Neil Bennett, Maitland Tel: 020 7379 5151
Colin Browne, Maitland Tel: 020 7379 5151
Editors' note:
Tribal Group plc provides a range of consultancy, support and managed 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 1,900 staff in the UK. Tribal is quoted on the
London Stock Exchange (TRB.L).
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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