Tribal, a provider of software and services to the international education markets, expects revenues to be slightly ahead of expectations in 2017, with financial performance materially ahead.
The outperformance has been driven by cost control and a balanced improvement across all lines of business.
The new operating model and organisational structure was introduced in 2016.
The new product strategy in the Higher and Further education sectors has been well received by customers and prospective customers, supporting sales momentum in both sectors. QAS has once again performed well and i-graduate revenues will be broadly in line.
The group's balance sheet remains strong with no long-term debt. As previously indicated, the group anticipates ending the year with a larger cash balance than reported in 2016.
Ian Bowles, chief executive, said: "I am pleased with the continued progress Tribal is making. Although our end markets face certain challenges, such as Brexit and funding, I remain confident that our team, applications and services will continue to be in demand and I look forward to continued progress in 2018."
At 9:06am: (LON:TRB) Tribal Group PLC share price was +6.88p at 87.88p