Business
Annual Financial Report
Annual Financial Report.
About this update from Triad Group Plc
[{"type":"text","content":"\n\nLegal Entity Identifier (LEI) No. 213800MDNBFVEQEN1G84\n \nTriad Group Plc (\"Triad\" or \"the Company\")\n \nAudited results for the year ended 31 March 2024\n \n(Company number: 02285049)\n \nTriad Group Plc is pleased to announce its audited results for the year ended 31 March 2024. \n \nThe Board is proposing a final dividend of 4p per share, bringing the total dividend to 6p for the financial year. The dividend is subject to shareholder approval at the Annual General Meeting (\"AGM\"), and details of the AGM will be announced at the appropriate time.\n \nFor further information, please contact:\n \nTriad Group Plc\nJames McDonald\nFinance Director and Company Secretary\nTel: 01908 278450\n \nZeus Capital Limited\nAlexandra Campbell-Harris\nTel: 020 7614 5900\n \nStrategic report\n\n\n\n \nFinancial highlights\n \n\n\n\n\n \n\n\nYear ended\n31 March 2024\n\n\nYear ended\n31 March 2023\n\n\nDifference\n\n\n\n\nRevenue\n\n\n£14.0m\n\n\n£14.9m\n\n\n-£0.9m\n\n\n\n\nGross Profit\n\n\n£2.8m\n\n\n£3.5m\n\n\n-£0.7m\n\n\n\n\nGross Profit %\n\n\n20.1%\n\n\n23.6%\n\n\n-3.5%\n\n\n\n\n(Loss)/Profit before tax\n\n\n(£1.3m)\n\n\n£0.0m\n\n\n-£1.3m\n\n\n\n\nLoss after tax\n\n\n(£1.0m)\n\n\n(£0.0m)\n\n\n-£1.0m\n\n\n\n\nCash reserves\n\n\n£2.1m\n\n\n£4.8m\n\n\n-£2.7m\n\n\n\n\nBasic loss per share\n\n\n(6.10p)\n\n\n(0.27p)\n\n\n-5.83p\n\n\n\n\nFinal dividend - proposed\n\n\n4p\n\n\n4p\n\n\n-\n\n\n\n\n \nChairman's statement\nDr John Rigg\n \nFinancial headlines\n \nFor the year ended 31 March 2024 the Group reports revenue of £14.0m (2023: £14.9m). The gross profit as a percentage of revenue has reduced to 20.1% (2023: 23.6%) primarily as a result of reduced levels of consultant utilisation, particularly in the first half of the year (unaudited interim accounts). The loss before tax was £1.3m (2023: profit £0.0m) and the loss after tax was £1.0m (2023: £0.0m). Cash reserves have reduced to £2.1m (2023: £4.8m).\n \nThe losses made in the first half of the year reflected the decision to retain a large bench of off-charge consultants along side a renewed focus upon work winning activities and the need for rapid reaction capabilities. New business wins in the second half generated a much improved revenue performance utilising in part the previously benched empl...