Business
Interim Management and AGM St
Interim Management and AGM St.
About this update from Tribal Group Plc
[{"type":"text","content":"\n RNS Number : 1334S Tribal Group PLC 13 May 2009 \n \n \n \n\nTribal Group plc\n\nInterim Management and AGM Statement \n\n\nTribal Group plc ('Tribal' or the 'Group'), a leading provider of consultancy, support and delivery services to the public sector in the UK and internationally, holds its Annual General Meeting at 2.00pm today and provides the following update on trading, covering the period from 1 January 2009 to date. \n \nPeter Martin, Tribal's Chief Executive, said: \n\n'Trading in the first four months of the year has been in line with our expectations. We have made considerable progress in raising our levels of committed income, which now stand at over £210m (against £139m at 1 January 2009). Our sales pipeline remains healthy, both in the UK and internationally.\n\n'We have been encouraged by the flow of new business opportunities during the period, particularly in the health, education and central government markets, although our property-related activities in regeneration and further education have continued to experience softer trading conditions. We have made good progress with our restructuring programme, from which we expect to realise annualised savings of more than £4m.\n\n'The costs of the restructuring programme and the previously-announced investment in new business initiatives are likely to result in a second half bias to the trading performance of the business this year. The level of committed income and the strength of the sales pipeline provide the Board with confidence that the Group will perform in line with its expectations for the full year.\n\n'We have maintained a good level of contract wins during the period. In addition to signing our new Ofsted contract, we have been successful in securing a wide range of contracts with both new and existing clients (including our appointment as lead designer on the new £150m Edinburgh Royal Hospital for Sick Children). We have also confirmed a number of important contract extensions. Our ability to offer clients a broad range of capabilities was rewarded recently with the award of a £1.5m contract to address ...