Provider of systems and solutions to the education Tribal Group Plc. (TRB.L), in its trading update for the period from 1 January 2013 to 16 May 2013, said trading since its year end has been in line with its expectations for 2013. It said that its profits are likely to be weighted towards the second half of the year.
The company noted that its order book remains strong, and at the end of April was 158 million pounds, compared to 168 million pounds at the end of 31 December 2012.
The company noted that its Solutions business has performed satisfactorily. Whilst domestically the market remains relatively quiet, its software-based education improvement services are gaining momentum in Asia Pacific, and are beginning to make progress in the United States and Middle East.
Cash generation from its operations has been good, and its net debt levels remain in line with its expectations for the full year, the company said.
While it is seeing the effects of budget constraints on its UK university customers' capacity to purchase enhancements to its SITS student management system, the flow of new opportunities in its student management systems business in its existing markets is good, the company noted.
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