LONDON (ShareCast) - (Sharecast News) - Information technology consulting company Triad Group reported a fall in revenue in its first half on Friday, to £9.03m from £11.85m.
The London-listed firm swung to a loss before tax for the six months ended 30 September of £0.30m, from a profit of £0.52m at the same time last year.

Its loss after tax was £0.41m, compared to a profit of £0.48m a year earlier, while its gross profit as a percentage of revenue was 14.6%, down from 18.5%.

Cash as at 30 September totalled £2.96m, down from £3.85m year-on-year.

"A number of exciting projects are due to start in the new calendar year including the group's first Intelligent automation engagement, the first stage of a potential multi-year engagement with a global sustainability organisation, and the delayed start to a significant programme for a top technology distribution company," said chairman John Rigg.

"The group is well prepared for the introduction of the off-payroll working in the private sector legislation in April 2020.

"We are advising clients as to their readiness for the new legislation and ensuring that transition to the new rules is as seamless as possible in respect of contractors supplied to clients and those used on client projects."

The Triad Group board declared an interim dividend of 1p for the period, in line with its interim distribution a year earlier.

At 0922 GMT, shares in Triad Group were down 14.62% at 35p.

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