London, July 5, 2026, 23:05 BST
- Tribal closed at 60.40p on Friday, up 4.14% on the day. The stock was flat over five days and is still down 10.19% for the year.
- Only 62,856 shares traded Friday, about 12% of the average volume according to LSEG figures on Investors Chronicle.
- FY25 annual recurring revenue was up 11% to £63.3 million. Two analysts had a median 12-month target of 93.50p on July 2.
AIM was closed at the time of publication since it was Sunday in London. The market opens for regular trading from Monday to Friday, 8:00 a.m. to 4:30 p.m. local time. Tribal Group plc (LON:TRB) comes into the week after ending Friday at 60.40p, gaining 4.14% on the day, but unchanged for the last five sessions.
Tribal’s market cap jumped by around £5.1 million from a 2.4p daily gain, calculated from the closing price and a share count of about 214.38 million. But trading volume stayed light, with just 62,856 shares moving, far below the 518,210 average, according to Investors Chronicle’s LSEG data.
The stock closed last week where it began, at 60.40p, after dropping for three straight sessions before bouncing on Friday.
| Date | Close | Day move | Volume |
|---|---|---|---|
| June 29 | 60.40p | flat | 48,679 |
| June 30 | 60.00p | down 0.66% | 1,004 |
| July 1 | 58.60p | fell 2.33% | 71,802 |
| July 2 | 58.00p | off 1.02% | 45,159 |
| July 3 | 60.40p | up 4.14% | 62,856 |
AJ Bell figures showed Tribal with a 4.14% total return on Friday, while the FTSE AIM All Share slipped 0.17%. The quote listed a 58.00p sell price, 60.40p buy price, making for a wide dealing spread for traders moving any real size.
The trade log throws up another red flag. LSE.co.uk reported 18 deals on Friday, counting 54,938 shares as sells and 7,917 as buys. There was also a single-share uncrossing trade at 60.40p at 16:35:28. Those buy and sell tags come from the data provider, but actual volume was light.
The longer view centers on cash and recurring sales. Tribal’s March update showed FY25 revenue up 4.2% at constant currency to £92.5 million, with adjusted EBITDA at £17.5 million, up 8.1%. Profit before tax jumped 135.8% to £12.5 million. ARR was 11% higher at £63.3 million. CEO Mark Pickett called FY25 “strategically important” and said Tribal had “returned the Group to a sustainable net cash position.”
| FY25 measure | 2025 | 2024 comparison | Change |
|---|---|---|---|
| Revenue | £92.5 mln | £88.8 mln constant currency | +4.2% |
| Adjusted EBITDA | £17.5 mln | £16.2 mln constant currency | +8.1% |
| Profit before tax | £12.5 mln | £5.3 mln constant currency | +135.8% |
| ARR | £63.3 mln | £57.0 mln | +11.0% |
| Net cash/(debt) | £11.4 mln | £3.2 mln net debt | Moved to net cash |
| Operating cash conversion | 142% | 105% constant currency | +37 pts |
Chairman Richard Last said the new year has “started in line with our expectations.” The results also noted that large legacy contracts in Australia are set to end as expected. Tribal warned that timing around Middle East contracts could impact Etio, its education services unit.
The valuation gap remains. LSEG data from Investors Chronicle listed two analyst calls as of July 2—one buy, one outperform. Median 12-month target sat at 93.50p, up 54.8% from Friday’s 60.40p close. That page also showed a trailing P/E of 14.66 and a 3.23% yield.
Gresham House Asset Management disclosed to Tribal on June 25 that its voting rights went up to 11.46% from 10.57%, making for 24,570,383 voting rights. The notice, filed just before the weekend, wasn’t a trading update. Investegate’s Tribal RNS page still lists the most recent operating update as March 26, with the June 25 item logged as a holding notice.
