Shares in Tribal (TRB) slumped 12 per cent after the student-management systems specialist said full-year profits were unlikely to meet market expectations. The shortfall stemmed from incomplete contracts and projects that have slipped into 2015.
Tribal continued its strong international progress - it signed an AUS $19m (£9.9m), five-year contract to supply all the technical and further education (TAFE) institutes in the Australian state of Queensland. It also landed a deal with the University of Alberta in Canada, following last year's agreement with the University of British Columbia.
Broker Canaccord Genuity slashed its full-year pre-tax profit forecast by 15 per cent to £13.4m, giving EPS of 11.3p. rising to £17.3m and 14.7p (2013: £14.6m and 12.5p).
