19th Apr 2005 07:01
Tribal Group PLC19 April 2005 Tribal Group PLC19 April 2005 Tribal Group plc ("Tribal Group" or the "group") Pre-close trading statement Tribal Group, the leading UK consultancy and professional support servicescompany, issues this statement as an update on trading during the year ended 31March 2005, prior to entering its close period. The full results for the yearwill be announced on 21 June 2004. The board of Tribal Group expects adjusted profit before tax to be higher thanthe £17.5 million indicated at the time of the interim results in November.Turnover for the year exceeded £228m, an increase of over 23% on the previousyear; underlying organic revenue growth was 5%. Cash generation in H2 was good, with net debt at the year end approximately £53million. Mercury Health, the group's healthcare delivery business, signed a £214 millioncontract in December 2004 to design, build and manage a regional network oftreatment centres in the south east of England, as part of the Government'sIndependent Sector Treatment Centre initiative. The £51 million funding for thiscontract is in place. The implementation programme is proceeding well and thefirst centre is expected to open in August 2005. The group continues to focus on organic growth. It has made good progress withits integration process and the establishment of a divisional operatingstructure is now completed. The benefits of these initiatives are starting toflow through, with improving operational performance and an increasing number ofcontract wins. We start the year with over 35% of our gross revenue committed. These developments give the board confidence about the group's prospects in2006, although it is anticipated that the traditional split between H1 and H2will be more pronounced. A fuller statement will be made in the announcement ofthe group's preliminary results. Tribal Group will be holding an institutional briefing meeting on 19 April 2005,at which time the group will also be providing a detailed briefing on MercuryHealth and the Strategic Alliance with HSS, announced yesterday. Copies of thepresentations given at these meetings will be available on the group's website. End For further information contact:Henry Pitman, Chief Executive, Tribal Group plc Tel: 01285 886020Simon Lawton, Group Finance Director, Tribal Group plc Tel: 01285 886020 Neil Bennett, Maitland Tel: 020 7379 5151Colin Browne, Maitland Tel: 020 7379 5151 Editors' note:Tribal Group plc provides a range of consultancy, support and managed servicesto the UK public sector. The group's core markets are in education; localgovernment, housing and regeneration; health and social care; and centralgovernment. The group employs 1,900 staff in the UK. Tribal is quoted on theLondon 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:
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