- Triad Group reveals that for the six months to 30 September 2012 revenue increased to £9.80m (2011: £9.61m).

However the Group reports a loss after tax in the period of £0.15m (2011: £0.11m) and positive earnings before interest, tax and depreciation (EBITDA) of £0.03m (2011: £0.07m).

Gross margin as a percentage of revenue has decreased to 14.5% (H1 2011/12: 16.2%) primarily due to increasingly competitive market conditions being faced by the Resourcing business. Utilisation in the Consulting business was less than expected during the second quarter of this financial year, however utilisation and yield have since improved.

Net borrowings as at 30 September 2012 have improved significantly to £0.07m (as at 31 March 2012: £0.50m). This is as a result of the continued strong credit control and cash management within the business.

Administrative expenses have decreased in the period by 5.7% to £1.52m (2011: £1.61m). Overheads remain tightly controlled.

The board stated that market conditions continue to be challenging, particularly in the Resourcing business where margins are under constant pressure. The Group is focused on developing its service offering whilst maintaining tight control of its resources. This will provide the platform upon which to build sustainable growth.

No interim dividend has been declared or paid (2011/12 interim: nil).

Story provided by