Source - SMW
Education software group Tribal swung to a full-year loss after it incurred one-off dispute resolution costs and its sales fell.

Pre-tax losses for the year through December amounted to £3.0m, compared to a profit of £4.1m on-year, and included dispute resolution costs of £9.1m.

Revenue fell 2% to £78.2m, though adjusted operating profit rose 9% to £15.4m.

Tribal declared a full-year dividend of 1.2p per share, up 9% on-year.

'I am pleased with the improved performance in 2019, and we started 2020 well with a number of new contracts won,' chief executive Mark Pickett said.

'However in light of recent events, our overriding concern for 2020 is to mitigate the impact of the coronavirus outbreak on the business and protect shareholder value.'

'We will continue to focus on our strategic priorities while ensuring the wellbeing of our customers, partners and staff.'

At 2:41pm: (LON:TRB) Tribal Group PLC share price was -18.25p at 39.5p

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