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| Share Name | Share Symbol | Market | Stock Type |
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| Aterian Plc | ATN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.50 | 1.01% | 50.00 | 11:36:11 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 49.50 | 49.50 | 50.00 | 49.50 |
| Industry Sector |
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| FIXED LINE TELECOMMUNICATIONS |
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Posted at 10/8/2023 06:53 by goforgold1 For each subscribed New Ordinary Share, investors will receive newly issued warrants on a one-for-one basis. The warrants are split into 50% exercisable at 1p any time up to the first anniversary of Admission, with the remaining 50% exercisable at 1.2p at any time up until the second anniversary of Admission.. |
Posted at 19/11/2004 07:17 by ariane RNS Number:4091FAttentiV Systems Group PLC 19 November 2004 19 NOVEMBER 2004 ATTENTIV SYSTEMS GROUP PLC ("AttentiV" or "the Company") PRELIMINARY ANNOUNCEMENT OF RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2004 AttentiV Systems Group plc is a leading developer and supplier of software to the financial services sector. These are the first full year results reported by the Company since its successful AIM listing in March 2004. Financial highlights * Turnover up 25% to #32.1 million (2003 #25.7 million) * Underlying operating margin increased to 11% (2003 8%) * * Underlying operating profit increased to #3.6 million (2003 #2.0 million) * * Reported operating profit increased to #3.2 million (2003 #1.0 million) * #2.2 million operating cash flow generated during the period (2003 #2.7 million) with closing net cash of #5.1 million (2003 #3.0 million) * Maiden dividend as a quoted company of 0.66 pence per share which is six months earlier than anticipated at the time of the company's flotation * See note 3 for further details Operational highlights * Successful flotation on AIM in March 2004 * Delivery of Summit solution to The Royal Bank of Scotland plc group in one of the UK's largest technology transformation programmes * 5 year support and development agreement signed with Intelligent Finance * Strengthening of position in sub-prime market David Webber, Chief Executive of AttentiV, commented: "The overall performance of the business over the financial year has been highly satisfactory. Trading subsequent to the year-end has also progressed in line with expectations. We expect our past success in selling a high level of additional services and software licences to our existing customers to continue and to enable fulfillment of our business plans for the financial year ending 30 September 2005." ENQUIRIES: AttentiV Systems Group plc Tel: 01582 845000 David Webber, Chief Executive Philip Wood, Finance Director ICIS Limited Tel: 020 7651 8688 Archie Berens Caroline Evans-Jones WEBSITE A presentation in respect of preliminary results for the year ended 30 September 2004 will be posted to the investor section of the AttentiV website ( www.attentiv.com) at 9.30 a.m. on 19 November 2004. Background Information on AttentiV Systems Group plc AttentiV is a provider of software solutions and associated services to the financial services sector. AttentiV has three offerings to the financial services market. 1. Portfolio - a software solution for organisations offering asset-backed finance products, personal loans and debt management; 2. Summit - a software system that supports the selling and administration of mortgages, loans, savings, current accounts and associated services within the retail banking sector; and 3. Tailored Solutions - software applications that are designed and built to perform particular tasks within the financial services market place. The functionality and scope of these solutions is determined by individual customer requirements. AttentiV provides all services required for a successful implementation of its offerings including project management, business consultancy, technical services and training. AttentiV also provides software development services; for the Portfolio and Summit products all software development takes place as part of the single product offering which is available to all customers, whilst for tailored solutions the developed software resides solely in that particular customer's software installation. AttentiV retains all property rights over all the intellectual property it creates. AttentiV provides software support, maintenance and helpdesk services for customers once they are running their businesses with the software and through its Synergy outsourcing service can deliver any of its technology solutions as a managed service. ATTENTIV SYSTEMS GROUP PLC ("AttentiV" or "the Company") PRELIMINARY ANNOUNCEMENT OF RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2004 Chairman's Statement I am pleased to announce a strong set of results for the financial year ended 30 September 2004 with the AttentiV management team delivering the anticipated improvement in financial performance. Turnover has risen by 25% to #32.1 million (2003 #25.7 million). The AttentiV team has delivered on the first stage of its objective of operational improvement with underlying operating margin increased to 11% (2003 8%). The combination of successful project delivery, customer retention and efficiency improvements has led to reported operating profit increasing to #3.2 million (2003 #1.0 million) whilst underlying operating profit has increased to #3.6 million (2003 #2.0 million). Underlying operating profit is stated after adjustment for non-recurring costs related to the group's former ownership together with the costs in 2004 associated with the rebranding to AttentiV. The team continues to concentrate on appropriate financial diligence with #2.2 million operating cash flow generated during the period (2003 #2.7 million) and debtor days at the year end are maintained at our target of between 40 to 50 days. Overview of year The overall performance of the business over the financial year has been highly satisfactory. The Summit retail banking product has had considerable success during the year which culminated in the signature of a contract to provide mortgage application processing capability to the Portman Building Society. The excellent performance of Summit compensated for a lower than anticipated level of success for the Portfolio product due to competitive pressures within the motor and consumer finance markets. In addition to the successful delivery of projects for London Scottish Bank plc, Toyota Financial Services (UK) plc and a number of mortgage lenders including Britannia Building Society and Bristol & West plc, AttentiV has strengthened its position in the sub-prime mortgage market with the addition of Mortgages plc, the Merrill Lynch subsidiary, as a customer. It is particularly pleasing that AttentiV has consolidated its position as the UK's leading provider of mortgage systems by its supply to The Royal Bank of Scotland plc group of a solution to enable the consolidation of its primary mortgage processing platforms in one of the UK's largest technology transformation programmes. The programme is scheduled to be completed in autumn 2005. Software licence revenues for the group increased to #4.8 million (2003 #3.0 million) with services and third party revenues increasing to #15.7 million (2003 #10.9 million). Support & maintenance and outsourcing revenues were #11.6 million (2003 #11.8 million). In the year ended 30 September 2004 gross operating costs of #30.5 million (2003 #26.6 million) were reduced by #1.6 million (2003 #2.0 million), which represents a net increase in work-in-progress on long term contracts, resulting in the reported operating costs of #28.9 million (2003 #24.6 million). Dividend Following the group's flotation on AIM the board is pleased to announce the proposed payment of a dividend ahead of the expectations set on flotation. The board proposes the payment of a final dividend of 0.66p per ordinary share which together with the pre-flotation dividend of #1,267,000 (paid to the company's then parent) makes the total dividend paid and proposed equivalent to 3.16p per share (2003 6.58p). The final dividend will be paid on 14 February 2005 to shareholders on the register as at 28 January 2005. The shares are expected to be quoted ex dividend on 26 January 2005. Operational Review Portfolio Revenue for the Portfolio product was #4.6 million (2003 #5.1 million) which was below expectations due to the level of competition within the consumer and motor finance sector. During the period Toyota Financial Services (UK) plc completed the roll out of the AttentiV motor finance solution across their operations and London Scottish Bank plc completed the roll out of the AttentiV personal loan and collection solution across their UK branches. Stroud & Swindon Building Society, The Cooperative Bank plc and Mortgages plc also completed projects to deploy the Portfolio collections and credit management solution. Summit Revenue for the Summit product was #22.0 million (2003 #14.1 million). This performance was ahead of expectations due to the continuing consolidation of Summit's position within the sector together with the continued closure of sales opportunities within the growing user base. During the period Britannia Building Society successfully migrated their 2.5 million savings accounts and 188 branches to the Summit Savings and Branch Cashiering solution with the licence fee associated with this project being recognised in the first half of the financial year. Following the signing of a contract with The Royal Bank of Scotland plc in December 2003 the implementation of Summit has progressed well with the Royal Bank of Scotland, NatWest and Ulster Bank brands successfully processing mortgages subsequent to our financial year-end. In two further rapid deployments of Summit both the National Counties and Darlington Building Societies have successfully commenced transacting live mortgage business during the year. In August, Bristol & West plc successfully migrated their historic mortgage book on to the Summit mortgage platform. On 1 September 2004 Mortgages plc, the Merrill Lynch subsidiary, successfully commenced transacting live mortgage business on Summit. They join Southern Pacific Mortgages Limited and Preferred Mortgages Limited, the Lehman's subsidiaries, as sub-prime lenders using mortgage lending solutions from AttentiV: further evidence of the opportunity we believe exists for AttentiV in the sub-prime market. During the autumn, our mortgage customers have migrated to Summit Release 9.1 in support of their compliance with the FSA's Mortgage Conduct of Business rules. Tailored Solutions Revenue for Tailored Solutions was #5.5 million (2003 #6.5 million). This reduction was expected and was due to a client taking their support and maintenance in house on 31 December 2003. The five-year support and development agreement signed with Intelligent Finance, the HBOS plc internet bank, to support the bank's mortgage, savings and offsetting systems, has progressed well through the year. Investment During the year AttentiV has completed further investments in its software products with additional enhancements to the user interfaces for Summit and Portfolio. There was also significant investment in the Summit product to support regulatory requirements and greater performance capability for high business volumes. Additionally, a new mortgage point of sale solution provided in collaboration with a partner, has been promoted since the early summer. This has already resulted in three customers adopting the solution. The savings and mortgages offset capability for Summit remains on track for delivery within the next release of Summit and the revolving credit capability developed for Portfolio Credit will shortly be available to customers. Improvement Building upon the improvements in operating performance over the past year, a programme has been established for further operational improvements in productivity to be achieved in 2005. For the development and support functions, there are particular metrics that are being monitored on a monthly basis to track against this programme and any variances to the plan are being reported to the AttentiV Board. The management team is confident that improvements will be achieved in 2005 and this will underpin our continuing focus on removing our dependency on licence revenues. Staff We have continued to invest in the training of our employees over the year. Average employee numbers have risen from 368 in 2003 to 391 in 2004 but we do not envisage employee numbers significantly increasing beyond that number within 2005. Retention has been maintained at 89% for the year. Current Trading & Outlook Trading since 30 September 2004 has continued in line with expectations, with our Summit customers transacting new mortgage business in accordance with the Mortgage Conduct of Business rules, to schedule, on 1 November 2004. In accordance with our business plans we have subsequent to the financial year end reduced our delivery capacity for the Portfolio product. This was in response to the level of competitive pressures within the motor and consumer finance sector resulting from the low barriers to entry, compared to core banking systems, for new suppliers to the sector. However, the opportunities within the retail banking sector and our existing customer base is expected to compensate for the challenging motor and consumer finance sector. Our aspirations for growth within the consumer finance sector are supported by a detailed programme of marketing activities and we remain encouraged by the pipeline of opportunities. Our view is that a number of mortgage providers, with internally developed lending systems, will need to take very tactical approaches to achieving mortgage compliance and that there will be both cost and efficiency burdens associated with the solutions they have adopted. A number of these organisations will need to make strategic decisions regarding their mortgage processing platforms during 2005 and securing sales wins to these organisations will lay the basis for further business success for AttentiV for the year ending 30 September 2006. We expect our past success in selling a high level of additional services and software licences to our existing customers to continue and thereby facilitate fulfillment of our business plans for the financial year ending September 2005. The company has #7.1 million (2003 #6.0 million) of contracted licences not yet booked to revenue together with a maintenance and contracted recurring revenues base at 30 September 2004 of #12.4 million (2003 #10.8 million). Looking forward, we expect the level of regulation in UK financial services to continue to be an important factor that will lead organisations to abandon in house developed solutions, because of the accelerating cost burden of compliance. Instead, we expect they will find it more efficient to adopt product solutions where the regulatory cost burden is shared across a broad user community. We therefore expect further opportunities to arise over the coming year within the mortgage market in the UK and Ireland as organisations assess their need to enhance their strategic platforms to meet future regulatory and market requirements. Peter Bertram Chairman 19 November 2004 |
Posted at 13/8/2004 13:08 by johnroger Investors Chronicle 13 August 2004ATTENTIV SYSTEMS (ATN) 63p - software supplier - Software supplier AttentiV Systems may not be a household name but, its products process one in four UK mortgage applications. The business was spun out of Lynx four years ago and, previously losing £2m a year, is now on course for a record performance. Increased productivity should help drive margin growth and a dividend is also likely next year. The company joined Aim in March following an oversubscribed placing at 55p a share, which raised a net £3.7m to fuel future expansion. Its customer base spans 72 clients and includes many high-street building societies and banks, such as Britannia, Royal Bank of Scotland and Barclays. To these, AttentiV supplies a range of solutions for mortgages, personal loans, savings, instalment credit, insurance and debit/credit management. Operating in the consumer finance and software systems markets, it is well-placed to benefit from increasing regulation. And by offering financial clients a one-stop service, the company is continuing to win market share. Its Summit software package is a core product and sales increased 49 per cent to £10.1m in the six months to 31 March 2004. So AttentiV has plenty of scope to push further software sales through its existing client base - but it is also on the lookout for complementary acquisitions. As with most software companies, though, AttentiV is light on fixed assets. Even so, cash and cash-generation are both strong. A property near Leeds is in the books at £1m, but has been revalued at £1.75m, and could provide a redevelopment opportunity. As of 31 March, services and third-party revenues covered 60 per cent of the total cost base. These are recurring revenues, so forecasting results is a much more predictable exercise. Forecast EPS growth is low due to the unusually low tax charge in 2004. But AttentiV has a leading market position, high recurring revenues and trades on just 13 times 2005's forecast earnings. Buy. -------------------- Ord price: 63p Market value: £38m Touch: 61-65p 12-month High: 68p Low: 60p Dividend yield: nil PE ratio: 13* Net asset value: 6p Net cash: £4.6m -------------------- Year to Turnover Pre-tax Earnings Dividend 30 Sep (£m) profit (£m) per share (p) per share (p) -------------------- 2002 27.9 0.7 1.7 - 2003 25.7 2.1 7.9 - 2004* 30.6 3.4 4.6 - 2005* 32.8 4.3 4.7 1.5 % change % change +26 +2 - -------------------- Market makers: 2 Normal market size: 10,000 *Investec's estimates Last IC view: 11 Jun 2004, page 61 BULL POINTS Strong market position Blue-chip customer base High recurring revenues Increased margins BEAR POINTS Short life on public market Limited EPS growth |
Posted at 02/8/2004 12:23 by techair Atlantic Telecom founder claws his way backBy Dominic White (Filed: 02/08/2004) What do you do when your telecoms business goes bust and your shares, valued at £110m during the dotcom bubble, become worthless? Graham Duncan: 'I had 8m shares, worth £110m. But they went to zero' Sell your house and set up another telecoms business - that is, if you are Graham Duncan, the Scottish founder of the ill-fated Atlantic Telecom. In the wake of Atlantic's collapse in late 2001, Mr Duncan has sold his seven-bedroom, 19th-century mansion near Aberdeen for £1m and begun an altogether more modest life. Having moved his family south to Edinburgh and bought a much smaller property, he has invested the remaining money in his new telecoms business, Glen Communications. Based in a small office on an industrial estate in Dalkeith, Glen - "a good Scottish name, I think" - employs 10 people and sells phone, internet and computer services to small businesses. The contrast with the former Atlantic, which started as a cable franchise but expanded into fast internet services during the giddy days of the boom, could not be more acute. In its heyday, Atlantic employed 1,200 people across Europe and had a market capitalisation of more than £2billion. But within 18 months Mr Duncan had to put the group into administration when it became unable to service the high-yield debts it used to fund its misguided international expansion. "I lost everything, to be honest," said the entrepreneur. "I had 8m shares, which at their height were worth £110m. Unfortunately, they went from there to zero. "I never sold any, apart from a few hundred thousand pounds worth. I didn't feel I could sell any more because of the message it would send out." However, it was the curse of Marconi that also sealed Mr Duncan's fate. In December in 1999 the now-infamous telecoms equipment company took a 20pc stake in Atlantic. "I agreed with Marconi that I wouldn't sell my shares for two years, but of course the company went bust before that time was up. It's a sad story but I am where I am. I'm 53 years old and I still believe I've got as much drive and enthusiasm as I had 20 years ago. I owe it to myself and my family to try to build something." One City analyst who knows Mr Duncan well said: "He's a pretty gritty Scotsman, and he's got a lot of belief in himself." This contrasts with Nicholas Berry, the scion of Lord Hartwell, former proprietor of The Telegraph, and one of the few investors to call the telecoms bubble right. He invested £5m in Atlantic in 1994 and sold out in February 2000 - for £37m. |
Posted at 17/4/2004 16:24 by johnroger Thanks Ariane.Investors Chronicle comment prior to float. 5 March 2004 New Issue: AttentiV Things have been looking up in the technology sector lately,with recent new issues such as Cambridge Silicon Radio, Torex Retail and Civica getting off to flying starts. The latest to take advantage of the recovery in the market to go public, in this case on Aim, is financial software supplier AttentiV. Under the Lynx name, AttentiV has developed two platforms: Summit, for the retail banking sector, and Portfolio, which is designed for other forms of asset-based finance such as vehicle and equipment leasing, personal loans and debt management. Portfolio can be integrated into customers' existing systems and used in a number of languages. The client list for Summit numbers more than 40, and includes more than 45 per cent of UK building societies. A fifth of new mortgage lending in 2002 was processed using AttentiV systems, the company says. There are over 15 users of Portfolio, including Alliance & Leicester Commercial Finance and Toyota Financial Services. The new customers AttentiV won last year include Preferred Mortgages and Darlington Building Society. The issue, sponsored by Investec, who will also be AttentiV's broker, is expected to raise over £30m and enable AttentiV to take advantage of the considerable sales opportunities it sees in the market place at the moment. Companies marketing and selling financial products are faced with ever-increasing regulatory and compliance legislation and cost pressures, while the high level of consumer debt is expected to boost demand for Portfolio's debt collection capabilities. In the year to 30 September 2003 AttentiV, which operates out of offices in Dunstable, Leeds and Sheffield, reported sales of £25.7m and operating profits of about £2.0m after exceptional charges. This year, operating margins are expected to improve from the present level of 7 per cent thanks to better efficiency among staff (currently around 390), and tighter control over production and software development. The issue, via a placing, is expected to get off the ground at the end of this month or early April, though details have yet to be released. The board won't have a significant stake post-float, but its members and other key staff will be incentivised through share option schemes. Giving a view is difficult when pricing details are not yet clear, but at least drawing comparisons should be easy. There are dozens of listed financial software companies, including London Bridge, Innovation Group, Financial Objects, Marlborough Stirling and, on a larger scale, Misys. Tony Lugge |
Posted at 17/4/2004 14:10 by johnroger Telegraph commentPay AttentiV to this stock Amid the clutch of technology companies to have floated in recent months, AttentiV Systems Group stands out as one of the more interesting propositions. Ignore the silly name, the company is actually surprisingly simple to understand as it sells software to the financial services industry. Its products help companies such as Standard Life and Royal Bank of Scotland to handle the processing of financial services. More than a fifth of the UK's mortgages last year were processed using software designed by AttentiV and over 40pc of building societies are customers. Last month's float, on Aim, has also given it a kick, providing £5.5m of new funds for future investment and working capital. AttentiV's parent, Lynx, sold its 100pc stake in the float for £27.8m, but there was plenty of appetite for the shares among big investors. The shares remain highly liquid. Of course, this is a small business (worth just £37m) and there is a risk that the IT sector recovery could stall. However, on forecast earnings of 4.2p a share for the current year, the shares, at 61.5p this week, are selling off a forward multiple less than 15, against the sector average of 20. Worth your attention. |
Posted at 08/8/2001 19:35 by tommy1 Doomsayers, just never give up. This baby has doubled up in a matter of days. Expecting the directors to buy very soon, to add to their buys in March. I would say expect £2.00 soon, but £1.00 is definately on the cards, but market and investor confidence will be restored on director buys. However holding to 70/75p. Watch out September , November. If you go by the recent rises,watch out in 2 weeks. |
Posted at 08/8/2001 17:34 by parrot FinancialRuin - 07 Aug'01 - 20:08 - 12 of 32I would put it at about £1 (+/- 25p). The reason being that there is much news to come between now and 1st Jan 2002 that will significantly affect ATNs share price. Of course this might not all be good news but in the main I expect it to be. In particular: 1. The deal with Affinity will be finalised on 8th August. This in itself should put a few pence on the price. 2. Given an increase to 14p (likely in the next 1 or 2 weeks) investors will realise the bottom has most probably be seen and will be prepared to buy the stock "on the basis of fundamentals" rather than sell on the basis of "fear". 3. If it were not for fear of bankruptcy then a fair price for the company would probably be around the asset value of £2.40 per share. Between now and 1st January 2002 this fear will either be alleviated or confirmed (I certainly think the former is more likely). Hence a price of around £1 might would still allow a significant discount for fear and uncertainty. 4. Almost all of the bad news about the telecoms sector now seems to be out and confidence is likely to return to the sector from this point forward. 5. We are likely to see some directors buying. This will demonstrate to the markets that directors have confidence in their own company. 6. There is a reasonable possibility of the bonds being renegotiated on terms that would be favourable to shareholders e.g a debt for equity swap. Whilst this would cause dilution it would still boost the share price because it would greatly reduce the company's (perceived) debt burden. 7. Now that the network is substantially complete management will be able to demonstrate the start of a growing cash flow. 8. Now that restructuring has largely been completed management will be able to demonstrate a significant reduction in cash burn. Ro12369 - 08 Aug'01 - 09:16 - 19 of 32 financial ruin your name is appropriate. 2 questions. 1)How can you base ATN on fundamentals? Do you know the meaning of the word? 2)More importantly the Affinity deal would have been priced in on announcement. So why will it rise today? You are the weakest link. Ro12369 seems to me you are the weakest link.LOL GOODBY |
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