Atlantic Global returns to profit and remains confident
BUSINESS software group Atlantic Global has returned to profitability over the past six months and has a “satisfactory” pipeline of new business.
The Cleckheaton-based group, which provides integrated business and resource management software applications, has enjoyed sales which are 20% higher than the same period in 2009.
The company – which will announce its interim results for the six months to the end of June in the autumn – made a loss of £200,000 before tax in the first half of 2009.
Atlantic has also revealed that over the past year it has seen its net cash balances increase to £2.096m from £2.032m.
In a trading update issued today, Atlantic said: “The pipeline of new business opportunities is satisfactory and progress has been
made on contracts arising from partnership opportunities.
“The directors believe that Atlantic Global will continue to produce an improved performance in the second half of 2010.”
During the 12 months to the end of last December, Atlantic saw revenue slide 38% to £1.3m.
The company recorded a pre-tax loss of £130,000, down from a £400,000 profit in the previous year.
But this loss was inflicted in the first half and Atlantic said it had since recovered and made an £18,000 profit in the last six months of the year.
It counts Aircom International, the Bank of Tokyo, GlaxoSmithKline, Pfizer, Aviva, Provident Financial, the National Assembly of Wales and Tiscali among its customers.
