Market's view on Tribal Grp.
Published on April 2024
- Tribal Group’s Full Year 2023 results were presented by CEO Mark Pickett and CFO Diane McIntyre, highlighting the performance up to 31 December 2023.
- Concerns were raised about the influence of Jenzabar after blocking a 74p offer, potentially depressing the share price for their benefit, and the implications for other shareholders looking for an exit or uplift.
- Discussions around possible takeover scenarios were fueled by interest from TechnologyOne and a blocked takeover attempt attributed to competitors not wanting Tribal to fall into other hands.
- The proposed acquisition of Tribal Group by Ellucian, valued at a £159m market capitalisation, was noted, pointing out the competition concerns due to their significant market shares in the UK HE sector for student information systems.
- Some stock watchers discussed the need for collective action among institutions to address their concerns regarding the company’s direction and management decisions.
- Questions were posed about the ongoing commercial discussions with NTU and the impact of scope changes on revenue and delivery schedules.
- Tribal Group’s reputation and future in Asia were considered at risk following a problematic £17m contract, with speculations about potential negative financial impacts and management accountability.
- The general sentiment from some watchers labelled Tribal as a serial disappointer, reflecting ongoing dissatisfaction with its performance and management.