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Tribal Group boosts recurring revenue and moves to net cash in H1

Tribal Group logoTribal Group
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Tribal Group says its transition to a pure-play education technology business is gaining traction, with revenue up 7.1% and annual recurring revenue rising 9.7% to £66.5m. Core SIS revenue grew to £35.7m as subscription and cloud expanded, net revenue retention improved to 109%, and exceptional costs fell sharply. Profit was relatively flat, but balance sheet moved to net cash of £0.6m.

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