Business
Final Results
Final Results.
About this update from Tribal Group Plc
[{"type":"text","content":"\n \nRNS Number : 2237T Tribal Group PLC 19 March 2019 \n\n19 March 2019\n \nTribal Group plc\n(\"Tribal\" or the \"Group\")\n \nPreliminary Results year ended 31 December 2018\n \nTribal (AIM: TRB), a leading provider of software and services to the international education management market, today announces its preliminary results for the year ended 31 December 2018.\n \nFinancial highlights\n· Adjusted operating profit for the year up 27% to £10.8m* (2017: £8.5m*) on revenue of £80.1m (2017: £84.9m)\n· Statutory operating profit up 24% to £4.6m (2017: £3.7m); statutory earnings per share (diluted) 2.0p (2017: 1.3p)\n· Annual recurring revenue increased by 5% to £38.5m (2017: £36.5m**) representing 45% of revenue\n· Adjusted Operating Margin improvement of 4.4pp** to 13.5%, pre-IFRS 15 margin 15%\n· Strong operational cash inflow during the year of £14.2m (2017: £11.1m); year end net cash of £20.0m (2017: £14.1m)\n· Progressive annual dividend payment with the Board recommending a 10% increase to 1.1p per share (2017: 1.0p)\n \n* Adjusted operating profit is in respect of continuing operations and is stated excluding \"Other Items\" charges of £6.2m (2017: £4.8m). Other Items include Share-based Payments, Deferred Contingent Consideration, Amortisation of IFRS3 Intangibles, Defined Benefit Pension Scheme gains, and Restructuring and associated costs\n** Adjusted for Ofsted contract, IFRS15 and constant currency\n \nOperational highlights\n· Four new name Universities won in the UK Higher Education sector and a number of larger Further Education Colleges\n· QAS won significant new contracts as well as renewals and extensions to existing contracts across the UK, USA and Middle East\n· In Australia and New Zealand, Higher Education sector continues to perform well supporting existing customers; Schools and FE/VET sector has been more challenging and a restructuring plan is in place to improve future performance\n· Continued investment in next generation, cloud-based student information system \"Tribal Edge\", and ongoing investment in current Student Management Systems products\n· Dispute with s...