Resource management software provider Atlantic Global says that it will make a full year loss.
There will be a swing from a profit of £401,000 in 2008 to a loss of £150,000 in 2009. House broker Daniel Stewart forecast a 2009 profit of £328,000 at the time of the interims, which showed a loss of £148,000. This means that the company was near to break even in the second half.
Atlantic expects to do much better in 2010. It has already secured 60% of budgeted 2010 revenue. Atlantic is winning customers and development spending, which exacerbated the loss, has added new functions to the software.
There is cash in the bank of £2.16m.
Shares in Atlantic reacted positively and rose 1p to 16.5p each, which values the company at £3.48m.
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