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Tribal Group shares surge as H1 post-tax profits skyrocket
(Sharecast News) - Education software firm Tribal Group reported a solid first-half performance on Tuesday, underpinned by continued momentum in its shift to a full-service software as a service model. Tribal said revenue had risen 2.3% to £45.3m in the six months ended 30 June, while adjusted underlying earnings jumped 18.4% to £8.3m, lifting margins from 15.9% to 18.4%., and statutory post-tax profits skyrocketed 323.6% to £3.9m, aided by lower exceptional costs.
Annual recurring revenues climbed 5.5% to £59.9m and hit £64.0m by mid-August, marking a 12.7% increase since the start of the year. Tribal also said its student information systems division delivered 4.2% revenue growth, offsetting a 4.5% decline in Etio.
Net debt narrowed by 61.0% to £3.9m, reflecting improved cash performance and reduced outflows.
Tribal highlighted that its full-year earnings were now expected to come in ahead of forecasts, pointing to strong post-period trading, including two major SIS contract wins and further higher education full service adoption, reinforcing its confidence in delivering FY25 results ahead of consensus
As of 0845 BST, Tribal shares had surged 28.22% to 60.52p.
Reporting by Iain Gilbert at Sharecast.com
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