|
Tribal Group PLC on Tuesday was optimistic as it delivered strong first half profit growth despite flat sales. The Bristol, England-based educational software and services provider said it is ‘increasingly positive’ about delivering full year results ahead of current market expectations after a positive trading performance. In response, shares in the firm shot up 21% to 57.00 pence each on Tuesday morning in London. Pretax profit rose to £5.6 million in the six months to June 30 from £1.0 million the year prior, although revenue only grew 0.9% to £45.3 million from £44.9 million. The bottom line benefited from lower administrative and finance costs and reduced exceptional charges compared with a year ago. Student Information Systems revenue grew 4.2% to £36.1 million from £35.2 million a year ago, while Etio revenue decreased 4.5% to £9.2 million from £9.7 million. Since June 30, Tribal said a further £4.0 million of new business has been signed. The firm said as a result of the ‘positive’ trading performance, it is ‘increasingly positive’ about delivering full-year results ahead of current market expectations. Tribal said consensus expectations were for revenue of £89.9 million, adjusted earnings before interest, tax, depreciation and amortisation of £14.6 million and net debt of £4.9 million. In 2024, Tribal reported revenue of £90.0 million, adjusted Ebitda of £16.7 million and net debt of £3.2 million. Chief Executive Mark Pickett said Tribal has entered the second half with a ‘robust foundation’. He said while the higher education sector continues to face a complex market backdrop as mounting cost pressure on universities is causing a slowdown in market activity, the opportunity in the vocational education market remains robust. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
