Tribal’s share price began trading at 223p and reached 228p by lunch time today.
Chief executive Henry Pitman told AccountancyAge.com the company has raised Pounds 10m from the flotation, adding: ‘The money will be used to repay all the debts within the group, and that will allow us to continue growth through acquisitions and contracts.’
Chartered accountant Simon Lawton joined the company as finance director last March. His past experience was key in his selection after spending 12 years at KPMG.
Tribal’s financial controls are strong, according to Pitman. ‘We have made six acquisitions so far,’ he said. ‘We rapidly moved to putting in group controls into these companies and moving them into a standard control structure.’
The company operates principally in the education sector, training teachers and advising schools on ways to increase funding. Tribal is also bidding for Local Education Authority contracts that administrations offer the private sector.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel