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LONDON (Alliance News) - Software development and consultancy company Triad Group PLC on Friday reported growth in profit in the first half of its financial year, as revenue increased on a strong order book and a number of government initiatives it worked on during the period.
Shares in Triad were trading up 16% at 60.21 pence on Friday following the news.
Triad's pretax profit rose to GBP668,000 in the six months to the end of September, from GBP215,000 the year before, as revenue increased to GBP14.8 million from GBP12.7 million.
Triad said its improved financial performance was underpinned by a strengthened order book, resulting from an increase in the number of larger engagements and growth in existing lines of business.
During the period, Triad worked on a number of public sector initiatives, including transformation of the justice system, securing the UK's borders, advising on a technology strategy for England's highways and helping to modernise systems used to fund government grants.
"We continue to monitor the possible impact of Brexit and other political events and the impact of impending legislative change, in particular the off-payroll legislation relating to contractors working in the public sector. Our order book remains strong and we continue to develop exciting opportunities in both public and private sectors," Chairman John Rigg said in a statement.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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