LONDON (Alliance News) - Triad Group PLC said Thursday that trading in the period April 1 to August 20, 2014 has been in line with its expectations.
In an interim management statement released ahead of its annual general meeting Thursday, the IT services company which covers Consulting, Recruitment and Location Intelligence, Chairman John Rigg said "Trading in the first half of the year is in line with internal expectations. The Company continues to trade comfortably within the facilities available to it."
In June Triad Group posted a decline in pretax profit in the year to end-March of GBP11,000, down from GBP28,000, as a rise in revenue to GBP19.7 million from GBP18.9 million, was offset by slightly higher cost of sales and administrative expenses. In the company's Resourcing business, revenue rose to GBP17.0 million from GBP16.0 million, offsetting a slight decline in its Consulting and Solutions business, where revenue declined to GBP2.7 million from GBP2.9 million, as a strong second-half partly offset a "disappointing" first quarter.
Shares in Triad were trading 2.85% higher at 7.84 pence per share shortly after the market open Thursday.
By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance
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Triad (TRD)