Triad Group shares surge on improved FY profit, revenue

Shares in Triad Group are up almost 25% after the software development and consultancy improved its full year pre-tax profit to £0.86m, from £0.35m.

Revenue was ahead at £28.3m, from £23.5m, while gross profit as a percentage of revenue firmed to 15.0%, from 14.1%.

"We have started the new financial year with a strong order book and healthy pipeline of opportunities," said chairman John Rigg.

"Underpinning the group's success will be our ability to develop new and existing accounts and deliver successful outcomes for our clients," he added.

Rigg added that in order to capitalise on opportunities being developed, efforts to strengthen the company's business model continued.

"A key aspect is the need to increase the headcount across the business," he said.

At 12:27 BST, Triad's shares were up 24.75% to 31.5p.