Atlantic Global Expects Improved 2nd Half After GBP150,000 1st Half Loss
24 Juillet 2009 - 9:34AM
Dow Jones News
Software company Atlantic Global PLC (ATL.LN) Friday said it
expects an improved second half, after cut backs in client spending
contributed to a first-half loss, but said there is no certainty
that the second half will offset the weaker prior period.
In a trading update for the six months ended June 30, Atlantic
Global, which develops management software for businesses, said it
incurred a pretax loss of GBP150,000.
However, the company said it experienced increased activity in
the second quarter with companies including Man Group PLC (EMG.LN)
and GlaxoSmithKline PLC (GSK.LN) signing up to its OnDemand
software service.
Atlantic Global said it has also secured first phase payments on
contracts with two unnamed customers, and said it expects further
revenue from these firms in the second half.
The company, which will post its interim results Sept. 22, said
it had cash of around GBP2.3 million at June 30 compared with
GBP2.2 million at Dec. 31.
Company Web site: www.atlantic-global.co.uk
-By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308;
rachael.gormley@dowjones.com
Atlantic Global (LSE:ATL)
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