Atlantic Global Plc (ATL.LN), a specialist provider of integrated business and resource management software applications, announced Tuesday for the twelve months ended December. 31, 2009, that the Group is expecting a full year loss before tax of GBP150,000.

MAIN FACTS:

-The Group expects to report an improved second half year performance compared to the first half year, although turnover for the twelve months to Dec. 31, 2009 is expected to be lower than for the same period last year.

-This is as a result of the Group maintaining its investment in Research and Development as well as the continuing difficult economic climate.

-The year end cash balance is expected to be slightly below the GBP2,158,000 at Dec. 31, 2008.

-Despite the difficult trading conditions, the Group secured an increasing number of blue-chip OnDemand customers during the second six months to Dec. 31, 2009 including RCUK Shared Service Centre and further departments within GlaxoSmithKline Plc (GSK.LN).

-The pipeline of new business prospects remains satisfactory and further significant progress has been made on several partnership opportunities.

-The investment in Research and Development introduced several new areas of functionality which greatly enhances the commercial appeal of the overall solution, which are expected to significantly benefit sales in 2010.

-This belief is supported by the Group securing material second phase payments on a contract with an existing global customer which the Board expects to generate further material revenue during 2010.

-The Group has already secured 60% of its budgeted 2010 support revenue for 2010, which the Directors believe is highly encouraging in current market conditions.

-For the reasons outlined above, and the positive feedback regarding the Groups updated suite of products from partners and potential customers, the Directors believe that the Group will produce a much improved performance in 2010.

 
 
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com
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