ࡱ> 2417 bjbjUU &7|7| lXXXppp8 )))!!!!!!$V vEX)")))E+Z)R8X)@X ua lp{(<p0@l    Press Release TRADING UPDATE Atlantic Global Plc (Atlantic Global or the Company), the AIM listed specialist developer of time and resource management software applications to a broad range of customers, announces a trading update following its 31 December 2002 financial year end. Despite an extremely difficult year in the technology sector and in the Companys markets, the Directors expect that turnover for 2002 will be approximately 1.55m (2001: 1.2m), an increase of 29%. Profit on ordinary activities before taxation, goodwill (at 181,000) and exceptional items (of 45,000), is expected to be approximately 460,000. Since the Companys admission to AIM in May 2001, it has invested substantially in expanding its infrastructure and staff. Additional investment, over and above that incurred in 2001, includes 100,000 of further software development costs, 188,000 on sales costs and 87, 000 on marketing costs to generate future sales growth. This is in anticipation of an expected increase in sales activity and the required capacity to handle it. The Companys net cash position at the year end was approximately 1.9m (2001 2.147m), showing a modest outflow, after allowing for the investment above, the payment during the year of 104,000 in dividends and 225,000 deferred cash consideration. The free cash flow from operating activities remained positive. Following the retirement in October 2002, due to ill health, of the previous Sales Director, Paul Lilley, a number of sales which were expected to be received in the final two months of the year were deferred. These orders, totalling 227,000 represented around 15% of the total turnover for the year to December 2002. The Directors now expect these orders to be received in the first quarter of 2003 and the Directors note that current potential sales opportunities and the level of Atlantics overall sales activity are the highest the Board has seen during the past twelve months. As the 2003 cost base is expected to be no higher than in 2002, the Directors anticipate further progress in profitability in the current year, given the expected increase in sales volume. Atlantic Global is pleased to announce the appointment of Mark Allcock as Sales and Marketing Director designate with immediate effect. Mark Allcock, aged 42, previously worked for Admiral Computing between 1990 and 2000, where he was Operations Director (1997-99) and latterly Head of Admirals largest division, the Telecoms Unit (1999-2000) prior to Admirals takeover by CMG in 2000. He was then appointed Managing Director of Integration Programmes responsible for integrating CMG and Admiral, which he completed by 2002. The Directors intend to announce an unchanged total dividend of 0.5p per ordinary share in respect of the year ending December 2002 in view of their confidence in the groups prospects. The Groups preliminary results for the financial year ending 31 December 2002 will be announced on Thursday, 27 March 2003. Ends Enquiries: Atlantic Global Plc Rupert Hutton 0798 4614354 Eugene Blaine 01274 733758 / 07710 471147 Binns & Co Public Relations Limited Paul Vann/Charlotte Barker 020 7786 9600 7th February 2003  (QCJH*CJ5CJ 5>*CJCJjCJUmHnHsH u jCJUCJ jCJU ()*+?@{ | $a$D$$Iflv02 4 la $$Ifa$$If$a$| PQ:;_z$a$$a$ $1h. 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