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Atlantic Global

Companies: ATL   
19/09/2003

Business and resource management software star Atlantic Global is now 120% ahead of last October's Company Watch, reflecting the excellent progress that it continues to make, despite a difficult market environment. However, interim figures for the six months to June were not particularly impressive, showing pre-tax profits raised a mere £1,000 to £231,000, on turnover increased from £860,000 to £907,000. But prospects look good, with a new product called Corporate Vision due for commercial launch in November, already having secured an order worth £300,000 from Norwich Union. Chief executive Eugene Blaine, who founded the company in 1993 and floated it in 2001, says that Corporate Vision 'could genuinely revolutionise the way that large corporates work' - quite a claim but nevertheless one that does seem within the bounds of possibility. For it is clear that this company's strength is its ability to develop products that are simple and that develop tangible benefits. The group also has plenty of cash - £1.9m at the end of June - with which to raise its marketing profile when the time is right. But the shares look demand at current levels, with house broker Collins Stewart expecting £700,000 of pre-tax profts this year, rising to £1m in 2004 - to deliver EPS of 2.1p, rising to 3p. Take some profits.

Market cap: £18.5m
PE Forecast: 38.8
Share price: 81.5p

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