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Published on: October 21, 2015

Delays and setbacks

Tribal has issued a downbeat trading statement, with comment around three key points : competitive pressures in large deals, slower sales momentum in the mid-sized arena and some customer timeline delays. These have combined to create a material reduction in expectations for the full year; we downgrade sales by some 9% for 2015E and 12% in 2016E, with a more dramatic reduction of c.44% to EBITDA in 2015E, and c. 39% in 2016E.

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