Delayed Project

 

TIDMATCG 
 
RNS Number : 1331T 
AT Communications Group Plc 
01 June 2009 
 

ATCG.L 
 
 
AT Communications Group plc 
("ATC" or "the Group") 
Delayed Project 
 
 
The Board of ATC has had discussions with a major customer and been informed 
that a substantial proportion of a project, scheduled for completion in this 
financial year, will no longer be on schedule. This project generated a turnover 
of approximately GBP6million which was accrued last year based on work done up 
to 31 December 2008 and would have provided significant cash for debt reduction 
during the course of the current financial year. The company is currently in 
discussions over the exact timing of the delay to this project and a further 
announcement will be made in due course. 
The Board of ATC has informed its Bankers of this matter in light of the 
re-negotiation of ATC's facilities currently underway following the disposal of 
Rocom. 
ATC has begun a cost reduction programme, which will substantially reduce its 
ongoing staffing levels. Although turnover in the four months to 30 April is 
behind expectations, the Directors are encouraged by the levels of new business 
wins being achieved by the new management team. This, together with the effects 
of the cost reduction programme, mean that the Company is better placed to 
mitigate the effect of the delay to the project referred to above. 
 
 
Enquiries 
 
 
+------------------------------------+-----------------------------------------------------------------------------------------+ 
| AT Communications Group plc        |                                                                                   08700 | 
|                                    |                                                                                   558   | 
|                                    |                                                                                   080   | 
+------------------------------------+-----------------------------------------------------------------------------------------+ 
| Scott Kean, Chief Executive        |                                                                                         | 
+------------------------------------+-----------------------------------------------------------------------------------------+ 
| www.atcommunications.co.uk         |                                                                                         | 
+------------------------------------+-----------------------------------------------------------------------------------------+ 
| Cenkos Securities plc              |                                                                                   020   | 
|                                    |                                                                                   7397  | 
|                                    |                                                                                   8924  | 
+------------------------------------+-----------------------------------------------------------------------------------------+ 
| Stephen Keys                       |                                                                                         | 
+------------------------------------+-----------------------------------------------------------------------------------------+ 
| www.cenkos.com                     |                                                                                         | 
+------------------------------------+-----------------------------------------------------------------------------------------+ 
| Biddicks                           |                                                                                   020   | 
|                                    |                                                                                   7448  | 
|                                    |                                                                                   1000  | 
+------------------------------------+-----------------------------------------------------------------------------------------+ 
| Shane Dolan                        |                                                                                         | 
+------------------------------------+-----------------------------------------------------------------------------------------+ 
| www.biddicks.co.uk                 |                                                                                         | 
+------------------------------------+-----------------------------------------------------------------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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