Pre-close Trading Update

RNS Number : 4895M

Tribal Group PLC

31 July 2017

 

31 July 2017

Tribal Group plc ("Tribal" or "the Group")

Pre-close Trading Update

Tribal, a leading provider of software and services to the international education markets, is today providing a scheduled update for the six months ended 30 June 2017. 

The first half of the year has been a period of good progress, with the Group benefiting from the strategic, operational and management changes introduced last year.

During the course of this year the Group has enjoyed a healthy level of new UK domestic and international contract wins across all business units. Our clients are responding positively to the Group's revised product strategy, and the next generation cloud based platform for Student Management Systems, Tribal Edge, was well received at our Higher Education Customer Conference at the start of this month. The Group is successfully realising the further efficiencies and cost savings anticipated in the current year.

The Group has delivered an improved operating margin and maintained its strong balance sheet, in line with its plan.

Tribal is well positioned to make further progress in the second half, with a good pipeline of new opportunities, and the Board's expectations for the full year remain unchanged.

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For further information please contact:

Tribal Group plc	Tel: [phone]
Ian Bowles, Chief Executive
Mark Pickett, Chief Financial Officer
Weber Shandwick Financial	Tel: [phone]
Nick Oborne
Tom Jenkins
Investec Bank plc	Tel: [phone]
Rowena Murray
Sara Hale Daniel Adams
N+1 Singer Capital Markets Limited	Tel: [phone]
Shaun Dobson

 

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