LONDON (ShareCast) - Shares in Triad Group surged on Thursday after the IT company reported a sharp increase in annual pre-tax profit.
The London-listed group said its pre-tax profit in the year to 31 March soared from £11,000 to £352,000, while revenue rose 19.3% year-on-year to £23.5m.

Triad cited an increase in contractor numbers in its resourcing arm and improved utilisation in its consulting business as the reason behind the increase in revenue.

The group added that gross margin declined 0.4% to 14.5%, as a bigger proportion of its resourcing business was conducted at lower margins than in the previous 12 months.

Triad also said it anticipate it will see more investment in the public and private sector as UK economic confidence grows, indicating it planned to grow its presence in the health sector.

Triad shares were up 43.37% to 22.22p at 10:42 on Thursday.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE