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UK – Tribal revenue rises +7%

14 March 2013

Education services provider Tribal Group (TRB:LSE) today reported that 2012 full-year revenue jumped +7% to £115.4 million from £108.2 million in the prior year. The firm said that revenue growth was driven by good performance in international markets.

Chairman John Ormerod said: “Our systems and solutions remain strong in their UK markets, and we are seeing increasing momentum for our offerings in international markets, both those in which we currently operate and selected potential new markets. 

“Our current trading is in line with our expectations for 2013. We anticipate our profits in 2013 will be weighted towards the second half of the year, and Tribal has good potential to make further progress over the medium-term.”

Adjusted operating profit in the period was up +16% to £13.8 million. Profit after tax rose to £9.7 million, compared to a loss of £22.4 million in the prior year.

The firm’s systems and solutions business performed well in the UK markets. The firm said it strengthened its position internationally, especially in Australia and New Zealand. The firm plans to internationalise business operations in the Middle East and North America.

In early trading, the company’s share price rose +4% to 135 pence, an increase of +75% from a year ago. Based on its stock price, Tribal has a market value of £121.80 million. 

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