We’ll only have to wait another eight days for education, learning and training market provider, Tribal Group, to release its preliminary results for FY12. In the meantime, the company has provided a trading update stating that its revenue for the year will be in line with expectations and adjusted profit before tax will stand at c£12.8m. It looks like the outperformance is due to Tribal’s international business, as revenues from its major Student & Learning Management Contract in New South Wales coming on stream. The contract is estimated to be worth in excess of AUD40m.
The revised adjusted PBT figure is well ahead of consensus estimates (30% higher). In early trading this has pushed up the share price by 16.5% to 134p. We’ll be interested to learn more about what is happening under the covers when the full year results are revealed next week; Tribal’s results over the past year have tended to show a rather mixed bag – see Tribal IMS: Mixed bag - with the international business shining while the UK business has struggled, and the products business tending to outperform the services business. All will be revealed next week.