Tribal Group PLC
03 September 2007
Tribal Group plc
3 September 2007
Tribal Group plc
AGM Statement
At the Annual General Meeting of Tribal Group plc ('Tribal' or the 'Group') to
be held at 10.30am today, the Chairman, Strone Macpherson, will provide the
following update:
'We have made an encouraging start in the first four months of the current
financial period, with revenue and profit significantly ahead of the
corresponding period last year. We entered the period with a record level of
committed income and we have since won a number of new contracts.
We are very pleased to announce that financial close has now been reached on the
North Middlesex Hospital PFI. This project, where we are the design lead, will
secure future fee income of close to £3million. This is the latest contract win
for our property business, following financial close of the Peterborough PFI
contract announced on 3 July 2007. Our education business has also achieved a
number of major successes, including software and information management
contracts for Transport for London (£3m), the Offender Learning and Skills
Service (£1.6m), Calderdale College (£1.5m), Queen Mary's College (£1.3m), the
Department for Innovation, Universities and Skills (£1.2m) and Nottingham
University (£1.1m).
Following the sale of Mercury Health in April 2007, our net debt has reduced
considerably. Both cash flow and capital expenditure in the period are in line
with budget.
As announced with our preliminary results in July, we are currently undertaking
a review of the business and we expect to provide shareholders with an update
with our interim results in November.
Today marks the retirement from the Board of Sheila Forbes, CBE. In her capacity
as a non-executive director, Sheila has made a valuable contribution to the
growth of the Group and, on behalf of Tribal and its shareholders, I would like
to thank Sheila for her service and to wish her the best for the future in her
new role as Principal of St Hilda's College, Oxford. '
For further information, please contact:
Tribal Group plc
Peter Martin, Chief Executive
Simon Lawton, Group Finance Director
Telephone: 020 7323 7110
Editors' note:
Tribal provides a range of consultancy, support and delivery services to the UK
public sector. The Group's core markets are in education; communities (local
government, housing and regeneration); health and central government. The Group
employs approximately 2,000 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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