29th May 2014 16:23
LONDON (Alliance News) - Tribal Group PLC Thursday confirmed that its expectations for 2014, 2015, and 2015 are unchanged by an announcement the Office for Standards in Education, Children's Services and Skills saying it will no longer contract Tribal, amongst others, for school and college inspections from September 2015.
The Office, known as Ofsted, announced that it plans to bring the management of all of its school and further education inspections in-house, and will no longer contract Inspection Service Providers.
It currently has contracts with Tribal, Serco Group PLC and educational charity CfBT Education Trust which are due to expire in August 2015. The contracts began in 2009.
Ofsted will continue to use additional inspectors currently contracted through the providers to form a "significant" part of its inspection workforce, but will now contract them directly.
"With the conclusion of these contracts the time was right to look again at how Ofsted can best deliver a service that is both efficient and flexible. We are confident that this is the right model," said Director of Corporate Services Nick Jackson.
Ofsted will keep its existing contracts for early years inspections.
Tribal said that its outlook is unchanged by Ofsted's decision, and it is continuing instead to focus on its strategic objectives.
Tribal said it was achieving "increasing success and momentum" on its objectives of provide technology enabled management and performance improvement solutions to the international education market.
Shares in Tribal closed down 0.6% at 181.75 pence Thursday afternoon. Shares in Serco closed up 0.5% at 371.35 pence.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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