3rd Sep 2007 10:22
Tribal Group PLC03 September 2007 Tribal Group plc 3 September 2007 Tribal Group plc AGM Statement At the Annual General Meeting of Tribal Group plc ("Tribal" or the "Group") to be held at 10.30am today, the Chairman, Strone Macpherson, will provide the following update: "We have made an encouraging start in the first four months of the currentfinancial period, with revenue and profit significantly ahead of thecorresponding period last year. We entered the period with a record level ofcommitted income and we have since won a number of new contracts. We are very pleased to announce that financial close has now been reached on theNorth Middlesex Hospital PFI. This project, where we are the design lead, willsecure future fee income of close to £3million. This is the latest contract winfor our property business, following financial close of the Peterborough PFIcontract announced on 3 July 2007. Our education business has also achieved anumber of major successes, including software and information managementcontracts for Transport for London (£3m), the Offender Learning and SkillsService (£1.6m), Calderdale College (£1.5m), Queen Mary's College (£1.3m), theDepartment for Innovation, Universities and Skills (£1.2m) and NottinghamUniversity (£1.1m). Following the sale of Mercury Health in April 2007, our net debt has reducedconsiderably. Both cash flow and capital expenditure in the period are in linewith budget. As announced with our preliminary results in July, we are currently undertakinga review of the business and we expect to provide shareholders with an updatewith our interim results in November. Today marks the retirement from the Board of Sheila Forbes, CBE. In her capacityas a non-executive director, Sheila has made a valuable contribution to thegrowth of the Group and, on behalf of Tribal and its shareholders, I would liketo thank Sheila for her service and to wish her the best for the future in hernew role as Principal of St Hilda's College, Oxford. " For further information, please contact: Tribal Group plc Peter Martin, Chief Executive Simon Lawton, Group Finance Director Telephone: 020 7323 7110 Editors' note: Tribal provides a range of consultancy, support and delivery services to the UK public sector. The Group's core markets are in education; communities (local government, housing and regeneration); health and central government. The Group employs approximately 2,000 staff in the UK. Tribal is quoted on the London Stock Exchange (TRB.L). Links: Tribal Group plc website: www.tribalgroup.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Tribal Grp.