Tribal posts losses

Education software firm, Tribal Group, has announced pre-tax losses of £0.7m after it was hit by exceptional costs of £3.5m in the six months to the end of June.The firm's interim dividend plummeted 78% to 0.4p but it said trading was in line with management's expectations for the full year.Revenues were up £57.5m over the period, an increase on the £52.4m reported a year earlier.Tribal said that following the successful completion of the sale of health, government and resourcing businesses, the company was now focused on the education, learning and training markets.It added that its cost reduction programme was well advanced, targeting annualised savings of £5.1m.Chairman, John Ormerod, said there was continuing uncertainty in the UK market and the firm had focussed business development efforts on international markets, with significant contract wins in Australia, New Zealand and the US. "we have streamlined our organisational structure to match the scale of our continuing activities," he said. "We have achieved savings of £0.5m during the period, and a further £2.4m are expected to be realised in the second half of the year. "As a result, we expect our profits to be weighted towards the second half of the year," Ormerod said. Tribal Grp.