Tribal Group plc Recommends No Final Dividend for the Year 2015; Reports Consolidated Earnings Results for the Year Ended December 31, 2015; Provides Earnings Guidance for 2016
The company reported consolidated earnings results for the year ended December 31, 2015. Revenue was £106.7 million against £123.7 million last year. Adjusted revenue was £106.7 million against £123.7 million last year. Operating loss was £45.2 million against £4.3 million last year. Adjusted operating profit was £2.9 million against £14.5 million last year. Loss before tax was £47.3 million against £6.3 million last year. Adjusted profit before tax was £1.9 million against £13.4 million last year. Loss from continuing operations was £45.4 million or 48.1 pence per basic and diluted share against £7.7 million or 8.4 pence per basic and diluted share last year. Adjusted profit from continuing operations was £1.2 million or 1.2 pence per basic and diluted share against £10.6 million or 11.3 pence per basic and diluted share last year. Loss was £45.5 million or 48.2 pence per basic and diluted share against £7.9 million or 8.4 pence per basic and diluted share last year. Adjusted profit for the year was £1.2 million or 1.2 pence per basic and diluted share against £10.6 million or 11.3 pence per basic and diluted share last year. Net cash used in operating activities was £6.2 million against net cash from operating activities of £19.7 million last year. Purchases of property, plant and equipment was £1.7 million against £1.3 million last year. Net debt was £32.5 million against £11.7 million at December 31, 2014. Adjusted EBITDA was £8.2 million against £19.7 million last year. Group net debt increased primarily as a result of acquisition-related payments and significant adverse working capital movements during 2015. Capital expenditure on product development and business systems was £5.1 million against £5.2 million last year.
The company expects improvement in underlying profitability during 2016, and expects overall results for this year to be weighted strongly towards the second half of the year.