Profits rise for software firm
BUSINESS software provider Atlantic Global has continued its turnaround with a £21,000 pre-tax profit for the first half of the year.
The company, which made a loss of £148,000 in the same period last year, also saw turnover increase from £647,000 to £728,000 in the six months to the end of June,
Speaking to TheBusinessDesk.com, finance director Rupert Hutton said the Cleckheaton-based firm was particularly pleased with its increased revenue on the back of new customers including ESURE, Merseyside Police and Experian.
He said: “Although trading conditions are still tough what we are trying to do is mitigate that by selling to customers where it is a revenue sale rather than a capital purchase.
“We are looking at making software easier to adopt, easier to understand, easier for companies to understand the benefits of the software and to make it easier to configure so it mirrors their people and their projects.”
Mr Hutton said the company had seen a viral effect in their sales where customers had initially used the software in one department before using it more widely after seeing the benefits.
Atlantic Global’s interim results showed an increase of £78,000 in its cash balance and the board has proposed paying an interim dividend of 0.1p per share.
Chairman Adrian Bradshaw said: “In the first half of the year, the group remained profitable, continued to develop a fully automated Software as a Service business platform and secured new blue chip customers. The group has achieved this while maintaining its substantial cash reserves.
“The introduction of the automated SaaS platform, which is due to be launched on 29 October 2010, will mark a significant milestone for the group. It will provide an effective means of targeting small and medium sized enterprises including individual departments within a larger organisation.
“Trading remains challenging as customers’ IT budgets remain under pressure. However, the group is seeing an uptake in interest in its SaaS offering, and the directors remain confident about the group’s future performance.”
