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Tribal upgrades profit guidance; reinstates dividend

By BFN News | 09:11 AM | Wednesday 28 October, 2020


Education software provider Tribal reinstated its dividend and upgraded its profit guidance after it won new contracts in the UK and Australia. The company said it would pay an interim dividend of 1.1p per share, unchanged from the amount paid in 2019, on 8 December to shareholders on the register as of 6 November. Profits for the year through December 2020 were now expected to comfortably exceed market expectations, with adjusted earnings before interest, tax, depreciation and amortisation of around £14.8 million. Revenue was expected to be in the region of £72 million. 'Despite sales cycles being protracted as a result of the pandemic, the Group has recently announced two contract wins, with universities in the UK and Australia, and contract implementations continue to progress well,' Tribal said. At 9:11am: (LON:TRB) Tribal Group PLC share price was +5.25p at 70.25p Story provided by StockMarketWire.com

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