Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
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.