Business
Update, board changes & inves
Update, board changes & inves.
About this update from Tribal Group Plc
[{"type":"text","content":"\n RNS Number : 2408G Tribal Group PLC 28 January 2010 \n \n\nTribal Group plc\n\nTrading update, board changes and investor presentation\n\nTribal Group plc (\"Tribal\" or the \"Group\"), a leading provider of professional services to the public sector in the UK and internationally, provides the following update in advance of the preliminary announcement of its results for the year ended 31 December 2009 on 23 March 2010. \n \nCurrent trading\n\nThe Group had an encouraging end to the year. The Board now expects that underlying profit before tax for the year ended 31 December 2009 (see Note) will be slightly ahead of the prior year. The Group's effective tax rate is expected to be lower than the prior year.\n\nAt 31 December 2009, Tribal had approximately 42% of 2010 planned revenue already committed, with total committed income standing at £217m (31 December 2008: £139m). The sales pipeline at the end of the year totalled £284m (31 December 2008: £297m). In the past three months, the Group has secured a number of important contract wins. \n\nIn Education, we have signed a significant extension to our contract to supply the University of Sydney with a new student management system. The total value of the contract will now be £10m over five years. \n\nIn Health, we have won several new commissioning contracts, including a major contract with South Central PCT Alliance, worth more than £20m over four years, to support nine primary care trusts in delivering significant productivity savings. \n\nIn Government, we have secured a contract with the States of Guernsey worth £3.5m to support the delivery of cost efficiencies and service improvements over the next five years. We have also been successful in renewing our Buying Solutions framework contracts for advisory work across all sectors of government in the UK. \n\nOur architectural design business has been appointed as design lead for the new £840m South Glasgow Hospital campus. Our fees for this project will be more than £15m over five years.\n\nStrategic developments\n\nWe have implemented our new corporate structure which will improve the market focus and productivity of our activities. Tribal now operates through four business streams: Education, Health, Government ...