Business
Half Year Results
Half Year Results.
About this update from Tribal Group Plc
[{"type":"text","content":"\n RNS Number : 5825X Tribal Group PLC 18 August 2009 \n \nEmbargoed for release at 7.00am\n18 August 2009 \nPRESS INFORMATION\nTribal Group plc (″Tribal″ or the ″Group″)\nHalf year results for the six months ended 30 June 2009 \n\nHighlights\n\n\nRevenue increase of 11% to £125.2m (2008: £113.3m)\n\n\nAdjusted profit before tax (after restructuring costs of £0.8m) of £8.5m (2008: £9.1m) \n\n\nSubstantial growth in committed income to £217m (2008: £139m)\n\n\nContinued healthy sales pipeline\n\n\nFurther development of international activities\n\n\nStrong operational cash conversion of 153%\n\n\nNet debt reduced to £15.8m\n\n\nRestructuring programme largely completed\n\n\nInterim dividend of 1.85p, an increase of 9%\n\n\n\nFinancial summary\n\n\n\n\n\n\n\n\nSix months ended\n\n\n\nSix months ended\n\n\n\n\n\n\n\n\n\n\n30 June 2009\n\n\n30 June 2008\n\n\n\n\n\n\n\nRevenue\n\n\n£125.2m\n\n\n£113.3m\n\n\n+11%\n\n\n\n\nAdjusted profit before tax\n\n\n£8.5m\n\n\n£9.1m\n\n\n-7%\n\n\n\n\nProfit before tax\n\n\n£8.1m\n\n\n£9.1m\n\n\n-11%\n\n\n\n\nAdjusted earnings per share\n\n\n6.7p\n\n\n7.4p\n\n\n-9%\n\n\n\n\nInterim dividend\n\n\n1.85p\n\n\n1.7p\n\n\n+9%\n\n\n\n\nOperating profit to cash conversion\n\n\n153%\n\n\n207%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNote: The adjusted profit before tax and adjusted earnings per share exclude intangible asset amortisation of £0.4m (2008: £0.2m) and the financial instrument credit of £nil (2008: credit of £0.2m). \n\nCommentary\nPeter Martin, Tribal's Chief Executive, commented: ″Despite a more challenging trading environment, Tribal has made good progress during the period. We have increased our committed income substantially, largely completed our restructuring programme and our sales pipeline remains healthy. Financial pressures on public sector organisations will increase. Tribal is well-placed to support clients that will be required to develop and implement plans to reduce costs and enhance productivity and efficiency. We continue to see a good flow of new opportunities to grow our business both in the UK and internationally.″\n\nPresentation...