Triad Group PLC
2 November 1999
Triad Group Plc
TRADING UPDATE
In my statement of 1st July 1999 I expressed caution regarding uncertainty
over trading conditions in the systems development areas of Triad's business
for the remainder of the current calendar year. My concerns regarding
possible delays in the commencement of major new lines of business have since
proved to be justified as far as the first six months' results of Triad's
current financial year are concerned, and the financial results for this
period are likely to be significantly below those reported for the first half
of the previous year.
I am, however, delighted to report that since 1st July 1999 Triad has
successfully consolidated major new lines of business in telecommunications,
banking, insurance, consumer electronics, and media. Among other advances, we
have established a leading position in the field of e-commerce and extended
enterprise application integration, which will be of very great value in the
future development of our business. All these lines of business are expected
to grow strongly, although uncertainty over levels of utilisation and
therefore over the outcome for the current financial year will continue until
we see the exact rate of this growth.
I am extremely confident that, as a result of the current substantial
strengthening in Triad's long term business base, we will be among the first
to emerge from the current market slow-down and will take full advantage of
the strong market recovery now widely expected early in the next calendar
year.
John Rigg
Chairman
For further information, please contact:-
Jonathan Gillen City Profile Group 0171 726 8588
Jonathan Shillington City Profile Group 0171 726 8588