19th Aug 2025 10:23
(Alliance News) - 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 GBP5.6 million in the six months to June 30 from GBP1.0 million the year prior, although revenue only grew 0.9% to GBP45.3 million from GBP44.9 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 GBP36.1 million from GBP35.2 million a year ago, while Etio revenue decreased 4.5% to GBP9.2 million from GBP9.7 million.
Since June 30, Tribal said a further GBP4.0 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 GBP89.9 million, adjusted earnings before interest, tax, depreciation and amortisation of GBP14.6 million and net debt of GBP4.9 million.
In 2024, Tribal reported revenue of GBP90.0 million, adjusted Ebitda of GBP16.7 million and net debt of GBP3.2 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.
By Jeremy Cutler, Alliance News reporter
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