Interim Management Statement

RNS Number : 8861G

Tribal Group PLC

29 October 2008

 



Tribal Group plc 

29 October 2008 

Tribal Group plc

Interim Management Statement

Tribal Group plc ('Tribal' or the 'Group'), a leading provider of consultancy, support and delivery services to the public sectors in the UK and internationally, provides the following update on trading. 

Peter Martin, Tribal's Chief Executive, said: 

'Trading in the period since 30 June 2008 has been in line with our expectations. We have maintained a good level of contract wins during the period and our order book and pipeline are healthy.  

'Our health commissioning business has secured its first major contract win. The £4.8m contract with Ashton, Leigh and Wigan Primary Care Trust will provide consulting and support services aimed at improving the health and well-being of the local population.  We have also developed our international education business, securing a £3m school inspection contract in Abu Dhabi.

'Whilst events in the UK economy will have implications for public sector borrowing, we are encouraged by the Government's recent statements on current spending plans and their medium term priorities in key areas such as health and education. We remain confident that the Group will perform in line with our expectations for the full year.

'Our balance sheet is strong and, at 30 September 2008, our net debt was £17.6m against bank facilities (which are committed to 2012) of £43m.

'We continue to strengthen the senior management team across the Group and we are pleased to announce that Jonathan Garnett, currently Managing Director of Nord Anglia's Learning & Services Division, will be joining us as Managing Director of our Education business stream in the New Year.'

Board appointments

'With effect from 30 November, Tim Stevenson OBE will retire as a non-executive director following his recent appointment as Lord Lieutenant for Oxfordshire. David Thompson will take on the role of senior independent director, in addition to his chairmanship of the audit committee.

'From 1 November, Lady Katherine Innes Ker will join the board as an independent non-executive director. She will become chair of the remuneration committee and will join the audit and nomination committees.  Lady Innes Ker is a non-executive director of Taylor Wimpey Plc and chairs their corporate responsibility committee. She is also non-executive chairman of Shed Media Group Plc. Her previous non-executive roles have been at Gyrus Group plc, Ordnance Survey, Fibernet Group plc, The Television Corporation plc (chairman) and Williams Lea Group.

'No additional information is required to be disclosed in respect of Lady Innes Ker pursuant to Listing Rule 9.6.13R (1) to (6).'  

End 

For further information, please contact: 

Tribal Group plc                                            Telephone: [phone] 

Peter Martin, Chief Executive 

Simon Lawton, Group Finance Director 

Maitland                                                        Telephone: [phone] 

Colin Browne 

Anthony Silverman 

Editors' note: 

Tribal provides a range of consultancy, support and delivery services focused on improving the delivery of public services in the UK and internationally. Our core markets are in education, health, housing and regeneration, central government and local government. Tribal employs approximately 2,200 staff and its shares are quoted on the London Stock Exchange (TRB). 

Links: Tribal Group plc website: www.tribalgroup.co.uk 

This Statement has been prepared for and is addressed only to our shareholders as a whole and should not be relied on by any other party or for any other purpose. Tribal, its directors, employees, agents or advisers do not accept or assume responsibility to any other person to whom this Statement is shown or into whose hands it may come and any such responsibility or liability is expressly disclaimed. 

This Statement may contain forward-looking statements. Any forward-looking statement has been made by the directors in good faith based on the information available to them up to the time of approval of this Statement and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward-looking information. To the extent that this Statement contains any statement dealing with any time after the date of its preparation, such statement is merely predictive and speculative as it relates to events and circumstances which are yet to occur and therefore the facts stated and views expressed may change. Tribal undertakes no obligation to update these forward-looking statements. 

 

END

 

 

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