StockMarketWire.com - IT consultancy Triad Group said revenue fell to £18.9m in the year to end-March (2012: £19.4m), primarily due to a decline in public sector activity.
At the level of operating profit, the Group reports a small increase in operating profit to £0.14m (2012: £0.04m).
Earnings before interest, tax, depreciation and amortisation (EBITDA) has fallen slightly to £0.2m (2012: £0.3m).
The Group reports a profit after tax of £0.03m (2012: £0.2m).
Gross margin has fallen to 14.3% (2012: 16.7%) as a result of continuing pressure on margins in the Resourcing business. Margins have also been impacted by fluctuating utilisation levels in the Consulting business throughout the year.
The year end cash balance improved to £0.3m (2012: net borrowings of £0.5m). Cash management and credit control continue to be tightly managed.
Efforts continue to strengthen the business through the development and leverageof the Group's service offering. Significant improvements have also been made to supporting processes and systems.
Story provided by StockMarketWire.com
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