Tribal plunges as revenues contract

By
0 mins. to read
Tribal plunges as revenues contract
Master Investor Magazine

Master Investor Magazine 53

Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

AIM-listed education support outfit Tribal (LON:TRB) has seen its shares drop by 10.83% to 64.20p (as of 10:20 BST) as its revenues for the six months to 30th June contracted by 4%. As a results of this, operating cash flow fell sharply into the red as falling overheads failed to keep up with the drop in income.

CEO Mark Pickett Commented: “Tribal continued to make good progress against its strategic objectives in the first six months of the year. First half performance overall was encouraging – recurring revenue and operating margin were both up. We completed the acquisition of Crimson Consultants, boosting our next generation cloud solution Tribal Edge’s functionality and accelerating its speed to market as well as bringing new customers and relationships into the Group. Our outlook for the full year remains unchanged subject to successfully winning the Middle East inspections work in H2, we continue to work on a number of new revenue opportunities, and we remain very excited about the longer-term growth opportunities available to us through the transition to Tribal Edge“.

Take part in our poll

Which asset managers’ products do you hold?


The Master Investor Show 2020 tickets are now available. Join us at the Business Design Centre on Saturday 28 March 2020.

Book your FREE tickets today using code: MIBLOG

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

YOUR FREE INVESTMENT MAG

Get real investment insights from some of the best minds in the business - with our free Master Investor Magazine.