Final Results

Triad Group PLC
16 April 2003


Triad Group Plc, the information systems and software consultancy, has today
announced its preliminary results for the year ended 31 March 2003.


Chairman's statement

Results

Turnover for the year ended 31 March 2003 is £27.8 million (2002: £41.6
million); pre tax losses are £4.98 million (2002: £0.47 million loss). This
latter figure is after exceptional administrative expenses of £1.39 million
(2002: £0.96 million) relating to a provision for costs of surplus property. The
pre tax losses before exceptional administrative expenses are £3.59 million
(2002: £0.49 million profit).

Dividends

The board recommend that no final dividend be paid: no interim payment was made
(2002: total dividend 1p).

Review of activities

Since my interim statement, market conditions, which I described at the time as
the worst that I have encountered in almost twenty years in the industry, have
shown no sign of improvement. During the year, reductions in the cost base of
the company have been made.

Market conditions remain extremely challenging. The global economic uncertainty
undermines the ability to predict the timing of recovery in the short-term.

The resourcing business has performed creditably in view of the competitive
challenge presented by the unprecedented downturn in the contractor market. The
consultancy and systems integration business has experienced activity in the
area of process and cost efficiency in both the public and private sectors.
Other activity is in the area of essential upgrade of existing infrastructure on
a cost effective and assured basis: 'e-government' initiatives have been slow to
date in gaining momentum.

The reduction in cost base has been achieved without undermining our underlying
business. The weak market conditions have forced greater rigours from buyers of
our services: demands which the company is well able to meet.


The Company has applied £4.9 million cash to buy back shares through tender
offers in April 2002 and October 2002. A cash balance of £4.7 million remains.

Employees

On behalf of the board, I have pleasure in thanking our staff and executive
directors for their substantial efforts throughout what has proved to be a
difficult year.

John Rigg
Chairman
15 April 2003

Profit and loss account
for the year ended 31 March 2003


                                                     Unaudited         Audited
                                                          2003            2002
                                                         £'000           £'000

Turnover                                                27,756          41,567
Cost of sales                                          (25,758)        (34,845)
                                                      ________        ________
Gross profit                                             1,998           6,722
Administrative expenses                                 (7,202)         (7,654)
                                                      ________        ________

Operating loss                                          (5,204)           (932)

Interest receivable                                        224             463
Interest payable                                             -              (1)
                                                      ________        ________
Loss on ordinary activities                             (4,980)           (470)
Before taxation
Taxation on loss on ordinary activities                      8             123
                                                      ________        ________
Loss for the financial year                             (4,972)           (347)
Dividends                                                    -            (255)
                                                      ________        ________
Loss sustained for the financial year                   (4,972)           (602)
                                                      ========        ========                              
Basic loss per ordinary share (note 3)                  (27.20)p         (1.36)p
Diluted loss per ordinary share (note 3)                (27.20)p         (1.36)p
                                                      ========        ========                              
Dividends per share                                       0.00p           1.00p
                                                      ========        ========                              


The above figures relate entirely to continuing operations. The loss on ordinary
activities before taxation and the retained loss, as stated above, are prepared
on a historical cost basis, and therefore no reconciliation to historical cost
loss is required.

There are no recognised gains or losses except for the loss for the year as
stated above, and therefore no separate statement of total recognised gains or
losses has been prepared.


Balance sheet
at 31 March 2003
                                                                    Unaudited             Audited
                                                                         2003                2002
                                                                        £'000               £'000
Fixed assets
Tangible assets                                                           726               1,115
                                                                      _______             _______
Current assets
Debtors                                                                 5,385               7,452
Cash at bank and in hand                                                4,739              11,300
                                                                      _______             _______
                                                                       10,124              18,752
Creditors: amounts falling due within one year                        (3,363)             (3,890)
                                                                      _______             _______
Net current assets                                                      6,761              14,862
                                                                      _______             _______
Total assets less current liabilities                                   7,487              15,977
Provisions for liabilities and charges                                (2,450)             (1,050)
                                                                      _______             _______
Net assets                                                              5,037              14,927
                                                                      =======             =======                       
      
Capital and reserves
Called up share capital                                                   151                 255
Share premium account                                                     562                 562
Capital redemption reserve                                                104                   -
Profit and loss account (note 4)                                        4,220              14,110
                                                                      _______             _______
Equity shareholders' funds                                              5,037              14,927
                                                                      =======             =======                       

Cash flow statement
for the year ended 31 March 2003


                                                                    Unaudited             Audited

                                                                         2003                2002
                                                                        £'000               £'000
Net cash (outflow)/ inflow from operating activities                  (2,071)               4,990
                                                                      _______             _______
Returns on investments and servicing of finance
Interest received                                                         224                 463
Interest paid                                                               -                 (1)
                                                                      _______             _______
                                                                          224                 462
                                                                      _______             _______
Taxation

UK corporation tax received/(paid)                                        410             (1,254)
                                                                      _______             _______
Capital expenditure and financial investment
Purchase of tangible fixed assets                                       (370)               (598)
Sale of tangible fixed assets                                             164                 183
                                                                      _______             _______
                                                                        (206)               (415)
                                                                      _______             _______
Equity dividends paid                                                       -               (765)
                                                                      _______             _______
Cash (outflow)/inflow before financing                                (1,643)               3,018
                                                                      _______             _______
Financing
Proceeds from issue of ordinary share capital                               -                  19
Cost of purchasing own shares                                         (4,918)                   -
                                                                      _______             _______
(Decrease)/increase in net cash                                       (6,561)               3,037
                                                                      =======             =======                       


 Reconciliation of operating loss to net cashflow from operating activities

                                                        Unaudited      Audited
                                                             2003         2002
                                                            £'000        £'000

Operating loss                                             (5,204)        (932)
Depreciation of tangible fixed assets                         617          853
Profit on sale of fixed assets                                (22)          (4)
Decrease in debtors                                         1,665        6,078
Decrease in creditors                                        (527)      (2,055)
Increase in provisions                                      1,400        1,050
                                                           _______      _______
Net cash (outflow)/inflow from operating activities        (2,071)       4,990
                                                           =======      =======                        
Notes

1. The financial information set out above has been prepared on the basis of the
accounting policies set out in the statutory accounts for the year ended 31
March 2003 and are consistent with those applied in the previous year.

The financial information set out above does not constitute the company's
audited statutory accounts for the years ended 31 March 2002 or 2003. The
financial information for 2002 is derived from the statutory accounts for 2002
which have been delivered to the registrar of companies. The auditors have
reported on the 2002 accounts; their report was unqualified and did not contain
a statement under section 237(2) or (3) of the Companies Act 1985. The statutory
accounts for 2003 will be finalised on the basis of the financial information
presented by the directors in this preliminary announcement and will be
delivered to the registrar of companies following the company's annual general
meeting.

2. The financial information set out above has been prepared in accordance with
Financial Reporting Standard Number 3. All items above relate to continuing
operations.

3. Loss per ordinary share

Loss per share has been calculated on the loss on ordinary activities after tax
divided by the weighted average number of shares in issue during the period
based on the following:
                                                                                2003                      2002
Loss on ordinary activities after taxation                               £(4,972,000)                £(347,000)
                                                                         ===========                 =========          
    
Average number of shares in issue                                         18,277,572                25,483,184
Effect of dilutive options *                                                       -                         -
                                                                         ___________                __________
Average number of shares in issue plus dilutive options                   18,277,572                25,483,184
                                                                         ===========                ==========          
Basic loss per share                                                        (27.20)p                   (1.36)p
Diluted loss per share                                                      (27.20)p                   (1.36)p
                                                                         ===========                ==========          
* The share options have no dilutive effect in the current year or previous
year.


 4. Profit and loss account
                                                          Unaudited
                                                              £'000

At 1 April 2002                                              14,110

Sustained loss for the year                                 (4,972)
Purchase of ordinary shares, including costs                (4,918)
                                                            _______
At 31 March 2003                                              4,220
                                                            =======


5. The annual report and accounts will be sent to shareholders in due course.
Further copies will be available from the company's registered office at Weyside
Park, Catteshall Lane, Godalming, Surrey, GU7 1XE.



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