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Atlantic Global

  • BY: Andrew Hore |
  • POSTED: 23/09/2008 |

Resource management software provider Atlantic Global has launched an online version of its software.

The new product is called the OnDemand Service. Atlantic had attracted a significant amount of internet traffic to its website so there is a ready made potential customer base that will be able to trial the new product.

It can take up to 18 months to secure a software sale to customers but in the case of the online version they will sign up to a 30 day trial and then, if they want to continue, they will pay £10 each month per user. Other versions of the product will be launched in the future. They will provide more modules and be dearer. There will only be a small contribution from the online service in the 2008 figures.

Turnover dipped from £1.16m to £1.12m in the six months to June 2008. Lower sales and marketing spending meant that pre-tax profits jumped from £72,000 to £201,000.

Atlantic shares were unchanged at 19.5p, valuing the company at £4.45m. There is £2.05m of cash in the balance sheet. Atlantic is still looking at potential acquisitions although the low share price is hampering its ability to make a large purchase.

Newly appointed house broker Daniel Stewart forecasts a rise in full year profits from £290,000 to £450,000. The shares are trading on 12 times forecast earnings and the prospective yield is just under 4%. 

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