Trading Update
July 13 2006 - 2:01AM
UK Regulatory
RNS Number:1309G
Atlantic Global PLC
13 July 2006
Press Release 13 July 2006
Atlantic Global Plc
Trading Update
Atlantic Global Plc ("The Company"), the specialist provider of integrated
business and resource management software applications, announces a trading
update prior to entering the 'close period' before the announcement of its
interim results for the six months ended 30 June 2006, which are due to be
published on Tuesday 19 September 2006.
Trading Results
Turnover for the first half will be approximately #933,000, which is virtually
identical to the same period last year (2005: #930,000).
The cost control measures that have been undertaken have helped reduce the loss
on ordinary activities before goodwill and taxation and we are expecting a small
loss in line with the Company's expectations.
The Group had net cash balances, at end of June 2006, of #1,914,000 compared
with #1,479,000 for the half year ended June 2005, showing an increase of
#435,000. The Group remains in the excellent position of being financially
secure, with a positive cash flow being achieved during 2006.
Outlook
Provident Financial, AIRCOM and Norwich Union Insurance have purchased Atlantic
Global Business Solutions software products for the first time. Orders received
for additional products from existing customers include Xchanging,
Computacenter, and Friends Provident. Strategic customers continue to renew
their support service contracts, with many having signed for a further
three-year term.
Atlantic Global has improved its market position with the world's leading
software industry analysts. One leading analyst commented "Atlantic Global will
command a strong position in the growing Project Portfolio Management market in
the UK", verifying that market awareness of Atlantic Global and its products are
steadily increasing.
The pipeline of new business opportunity remains high, as does the potential to
grow the business with existing large customers. Consequently, a good second
half year performance is likely. The Directors confirm that they expect the
results for the year to be in line with the Company's expectations.
Notification of Interim Results
The Company's interim results announcement for the six months ended 30 June 2006
will be made on Tuesday 19 September 2006.
An analyst briefing given by Steve Allen (Non-executive Chairman), Eugene Blaine
(Managing Director) and Rupert Hutton (Finance Director) will be held at 9.30 am
on the same day at Abchurch Communications' offices, 100 Cannon Street, London
EC4.
- Ends -
For further information please contact:
Atlantic Global Plc
Eugene Blaine, Managing Director Tel: +44 (0) 1274 863 300
Rupert Hutton, Finance Director
eugene.blaine@atlantic-global.com
rupert.hutton@atlantic-global.com www.atlantic-global.co.uk
Media enquiries:
Abchurch
Sarah Hollins/Georgina Bonham Tel: +44 (0) 113 203 1340
sarah.hollins@abchurch-group.com www.abchurch-group.com
Notes to editors
Atlantic Global develops innovative software applications that enable
organisations to monitor, manage and model the fundamental pillars of their
business - resources, skills and costs.
In addition to its flagship Corporate VisionTM solution, which offers a
real-time, role-based view of business operations, Atlantic Global Business
SolutionsTM also offers a series of business management-focused applications
including planning and resource management, timesheet and expense tracking,
business information tracking, risk management and contractor management.
Atlantic Global's customer base ranges from SMEs to Global 1,000 organisations
and includes Barclays, GlaxoSmithKline, NEC, Provident Financial, Computacenter,
Orange, Norwich Union, and NTLTelewest.
Founded in 1993, Atlantic Global is headquartered in West Yorkshire, England. It
listed on the Alternative Investment Market of The London Stock Exchange (AIM)
in June 2001.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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