Triad Group Plc, the UK-based IT and software consultancy, finds it difficult to forecast immediate financial prospects, as some large customers are deferring the start of major new IT development work to keep their decks clear for tackling unforeseen millennium problems.
Chairman John Rigg says it is possible, but by no means certain, that the growth in new business will prove to be extremely rapid. He is confident that their systems business can take advantage of the expected upsurge in major projects in January 2000 and thereafter.
Triad’s outsourcing and contractor business continues to show strength and the company is upgrading relationships with major clients from the simple resourcing of contractors to the provision of Triad staff on outsourcing contracts running from three to five years. Triad performed well last year with net profit in the year through March 31 rising 30.6% to 5.8m pounds ($9.1m) on revenue 53.3% higher at 49.3m pounds ($91.2m).
