Tribal Group (TRB)

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Support

Index:

FTSE AIM All-Share

57.25p
   
  • Change Today:
    -0.25p
  • 52 Week High: 71.70
  • 52 Week Low: 39.50
  • Currency: UK Pounds
  • Shares Issued: 213.58m
  • Volume: 28,919
  • Market Cap: £122.27m
  • RiskGrade: 242

Tribal Group halves final dividend as contract delays weigh on profits

By Iain Gilbert

Date: Friday 24 Mar 2023

LONDON (ShareCast) - (Sharecast News) - Software and services firm Tribal Group cut its final dividend in half on Friday as it revealed full-year pre-tax profits had fallen as a result of contract delays.
Tribal Group said its underlying business had remained strong throughout 2022, with group revenues growing 2% to £83.6m following a solid performance across its Cloud and Edge offerings. Annual recurring revenue remained flat at £51.2m.

The AIM-listed group stated this had somewhat offset significant impacts stemming from the implementation delays on its contract with Nanyang Technological University, due to changing scope and complexity and resulting in "substantially increased" ongoing costs and lower recognisable revenues.

However, group adjusted underlying earnings tumbled from £16.8m to £7.4m, reflecting operating losses relating to the NTU contract and an onerous contract provision of £4.5m for future losses. Statutory Profit pre-tax profits for the year decreased to £400,000 from £8.6m a year earlier.

Chief executive Mark Pickett said: "Based on the performance in the year and having reviewed the group's cash flow forecasts, specifically with regard to the significant uncertainties around the resolution of the NTU contract, the board have concluded that it would be prudent to reduce the final dividend by 50%. It is the board's intention to return to its former policy of dividend progression when circumstances allow."

As of 0935 GMT, Tribal shares were untraded at 37.60p.







Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Tribal Group Market Data

Currency UK Pounds
Share Price 57.25p
Change Today -0.25p
% Change -0.43 %
52 Week High 71.70
52 Week Low 39.50
Volume 28,919
Shares Issued 213.58m
Market Cap £122.27m
RiskGrade 242

Tribal Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
59.37% below the market average59.37% below the market average59.37% below the market average59.37% below the market average59.37% below the market average
63.04% below the sector average63.04% below the sector average63.04% below the sector average63.04% below the sector average63.04% below the sector average
Price Trend
45.45% above the market average45.45% above the market average45.45% above the market average45.45% above the market average45.45% above the market average
47.47% above the sector average47.47% above the sector average47.47% above the sector average47.47% above the sector average47.47% above the sector average
Income
87.82% below the market average87.82% below the market average87.82% below the market average87.82% below the market average87.82% below the market average
87.1% below the sector average87.1% below the sector average87.1% below the sector average87.1% below the sector average87.1% below the sector average
Growth
36.11% above the market average36.11% above the market average36.11% above the market average36.11% above the market average36.11% above the market average
23.40% above the sector average23.40% above the sector average23.40% above the sector average23.40% above the sector average23.40% above the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Tribal Group Dividends

  Latest Previous
  Final Final
Ex-Div 22-Jun-23 23-Jun-22
Paid 27-Jul-23 28-Jul-22
Amount 0.65p 1.30p

Trades for 19-Jul-2024

Time Volume / Share Price
17:07 2,000 @ 57.25p
13:53 34 @ 55.85p
13:53 860 @ 58.65p
13:39 1,040 @ 57.10p
13:17 22,985 @ 59.00p

Tribal Group Key Personnel

CEO Mark Pickett
CFO Diane McIntyre

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