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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Atlantic Global | LSE:ATL | London | Ordinary Share | GB0030419542 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 21.00 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0716X Atlantic Global PLC 18 January 2006 18 January 2006 Atlantic Global Plc Trading Update Atlantic Global Plc ("the Company"), the specialist provider of Project Portfolio Management (PPM) software applications, announces a trading update following its 31 December 2005 financial year-end. The Company's preliminary results for the financial year ended 31 December 2005 will be announced on Wednesday, 15 March 2006. Trading Results The Directors expect that turnover for 2005 will be approximately #2.13m (2004: #2.15m), almost identical to the 2004 level. Turnover for the second half of the year of #1.20m, whilst lower than market expectations, represents an increase of 29% on the turnover for the first-half of 2005 of #0.93m. It is expected that the loss before tax and goodwill for the year will be approximately #0.45m, (2004: profit #0.36m). The trading position improved in the second half of the year showing a loss before tax and goodwill of #0.07m compared with a loss for the first half of 2005 of #0.38m. The total expenditure on sales and marketing during 2005 amounted to approximately #1.55m which was #0.54m more than the #1.01m spent in 2004. The Company is currently budgeting sales and marketing expenditure of approximately #1.25m for 2006, which includes sales commission that will only become payable when individual sales targets are met. The Company's net cash position as at 31 December 2005 amounted to #1.49m (2004: #1.90m), showing a modest outflow, after the significantly increased investment in sales and marketing and the payment of #0.17m in dividends. New customers We are pleased to announce that recent new licence sales included LogicaCMG (further Corporate Vision roll out) and Friends Provident (new Corporate Vision customer), Norwich Union Central Services (new Corporate Vision customer), Travelex (new Business Solutions customer). The combined value of these contracts amounts to #0.60m of which #0.54m has been included in our 2005 results. Interim Chairman Stephen Allen will continue to fulfil the role of Interim Chairman for the immediate future whilst the Company continues the search to add new and appropriate skills to the Board. Outlook The Directors believe that the outlook for 2006 is very positive. The Gartner PPM magic quadrant published in June 2005 included Atlantic Global as the only UK vendor, one of only two European vendors and one of the top 26 PPM software vendors worldwide. The sales and marketing teams have a clearer understanding of the market place and the PPM sales cycle. Recent blue-chip sales contracts validate the approach, and also confirm the Directors' view that the Company's potential remains substantial. In view of the trading losses the Directors will not be proposing a dividend in respect of the financial year ended 31 December 2005. As soon as the trading position improves and the Company moves in to profit, the Directors intend to return to a progressive dividend policy. - Ends - For further information please contact: Atlantic Global Plc Eugene Blaine, Managing Director Tel: +44 (0) 1274 863 300 eugene.blaine@atlantic-global.com Rupert Hutton, Finance Director rupert.hutton@atlantic-global.com www.atlantic-global.com Media enquiries: Abchurch Sarah Hollins / Justin Heath Tel: +44 (0) 113 203 1341 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 Vision(TM) solution, which offers a real-time, role-based view (rba) of business operations, Atlantic Global Business Solutions(TM) 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, Colt Telecommunications, GlaxoSmithKline, NEC, Norwich Union, Pfizer, The Metropolitan Police and Virgin Mobile. 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. Investors Centre Website See www.atlantic-global.com for new updated investor section and email alerts. This information is provided by RNS The company news service from the London Stock Exchange END TSTBRGDBDXBGGLR
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