Tribal Group PLC
18 October 2006
Trading update and demerger of Mercury Health
The Board of Tribal Group plc the leading UK consultancy, professional support
services and healthcare delivery company, issues the following update on
trading in advance of its results for the six months to 30 September 2006, due
to be announced on 28 November.
As indicated at the time of the AGM statement in July the weighting of trading
towards the second half will be more pronounced than in previous years. This
trend has continued and consequently first half profits will be somewhat below
those anticipated at the time of the AGM.
Education and technology has performed in line with expectations.
Consulting services has had a slower than expected start to the year, with PFI
delays, continuing slowdown in NHS recruitment and higher than expected bid
costs. A slow start to the new framework contracts has also affected H1
profitability.
Progress at Mercury Health continues to be very encouraging with trading in the
first half stronger than expected.
In view of the progress made by Mercury Health since its inception, the Board is
currently deliberating how best to maximise the opportunities available to
Mercury Health, through the possibility of a demerger and separate listing.
For further information, please contact:
Tribal Group plc - 01285 886020
- Henry Pitman, Chief Executive
- Simon Lawton, Group Finance Director
- Peter Martin, Chief Executive, Mercury Health
This information is provided by RNS
The company news service from the London Stock Exchange