Tribal Group PLC Trading Update (3010Z)
December 14 2017 - 1:01AM
UK Regulatory
TIDMTRB
RNS Number : 3010Z
Tribal Group PLC
14 December 2017
14 December 2017
Tribal Group PLC
("Tribal" or the "Group")
Positive trading update
Tribal (AIM: TRB), a leading provider of software and services
to the international education markets, is pleased to announce the
following trading update in respect of its financial year ending 31
December 2017.
Following positive trading momentum, the Board anticipates that
Group revenues will be slightly ahead of expectations and the
financial performance of the Group will be materially ahead.
The outperformance has been driven by continued and effective
cost control and a balanced improvement across all lines of
business. The new efficient Group operating model and
organisational structure introduced in 2016 is working effectively.
The new product strategy in the Higher and Further education
sectors has been well received by customers and prospective
customers, supporting sales momentum in both sectors. QAS has once
again performed well and i-graduate revenues will be broadly in
line.
The Group's balance sheet remains strong, with no long-term
debt. As previously indicated, the Group anticipates ending the
year with a larger cash balance than reported in 2016.
The Group expects to announce its full year results in March
2018.
Ian Bowles, Chief Executive, commented:
"I am pleased with the continued progress Tribal is making.
Although our end markets face certain challenges, such as Brexit
and funding, I remain confident that our team, applications and
services will continue to be in demand and I look forward to
continued progress in 2018."
The information contained within this announcement is deemed by
the Group to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No.596/2014.
Ends
For further information please contact:
Tribal Group plc Tel: 0117 311 5293
Ian Bowles, Chief Executive
Mark Pickett, Chief Financial
Officer
Investec Bank plc Tel: 020 7597 5970
Sara Hale
Andrew Pinder
William Godfrey
N+1 Singer Capital Markets Tel: 0207 496 3000
Limited
Shaun Dobson
Weber Shandwick Financial Tel: 020 7067 0700
Nick Oborne
Tom Jenkins
This information is provided by RNS
The company news service from the London Stock Exchange
END
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