18th Sep 2019 12:55
(Alliance News) - Shares rose in Tribal Group PLC on Wednesday as it announced the awarding of contracts with education departments in Abu Dhabi and Australia, collectively worth GBP6.6 million.
Also, the education-focused software and services provider appointed Mike Cope as chief technology officer with immediate effect.
Shares in Tribal Group were 10% higher at 69.65 pence on Wednesday.
Cope will join from University College London, where he was chief information officer for nine years since 2010.
The first contract is with the Department of Education and Knowledge in Abu Dhabi, for the full inspection of schools against an agreed framework. The contract is worth a total of AED28.9 million, or GBP6.3 million over two years, starting in October.
The second contract is with the Health Education Training Institute in Australia, for the implementation of student information systems using Tribal's new SITS Accelerate product.
The software-as-a-service contract is for three years and is worth AUD500,000, or GBP300,000.
"Tribal Group are excited about reigniting the strong relationship with ADEK. We have worked with ADEK for a number of years and have had great success in supporting their drive to provide high quality education, said Chief Executive Officer Mark Pickett.
"It is also pleasing to win a new SITS customer in Australia and we look forward to winning further SITS Accelerate customers. The board's financial expectations for the full year remain unchanged," Pickett added.
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