Triad earnings rise despite drop in revenue
By Josh White
Date: Monday 11 Jun 2018
(Sharecast News) - Triad Group issued its results for the year ended 31 March on Monday, reporting revenue of £27.8m for the period, down from £30.9m year-on-year.
The London-listed company said its profit before tax was £1.66m, rising from £1.52m, while its earnings before interest, tax, depreciation and amortisation were £1.75m, up from £1.61m.
Its profit after tax grew to £1.62m from £1.53m, with gross profit as a percentage of revenue standing at 17.0%, compared to 16.2% 12 months ago.
"The new financial year has started well with a significant new contract to provide consultants to Ofgem as part of the rewrite of the system supporting the Energy Company Obligation (ECO) programme," said executive chairman Dr John Rigg of the firm's outlook.
"New starters are joining existing engagements and providing additional capacity to win further work."
Dr Rigg said contractor numbers had reduced on a long-standing account where one programme had scaled down "significantly" for the next two quarters, but added that its sales pipeline included opportunities to address that.
"The group remains focused on growing gross profit and improving margin, rather than pursuing revenue at the expense of these vital performance measures.
"We are investing in a number of marketing and communications projects to raise the group's profile during the forthcoming year, including the launch of a new website that better reflects our capabilities as a provider of highly skilled technical consultants."
The Triad board proposed a final dividend of 1.0p per share, subject to shareholder approval at its annual general meeting on 5 September.
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