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@UK (AIM:ATUK) - The Cloud Platform provider has issued an encouraging trading update.
Posted 31/01/12
The Group has confirmed improved trading during the year with results now anticipated to be ahead of current market expectations..
Revenues are expected to show an 18% increase on the prior year to approximately £2.415m, while the loss before tax is expected to have decreased by 76% to approximately £0.14m. The Company’s e-commerce business, its main growth engine, delivered a stronger than expected performance with 61% growth in revenues.
Having raised £0.5m just before Christmas the Balance Sheet is in much better shape which should vastly improve its future chances when competing for larger Government contracts.
They have established a telesales team focusing on selling their SpendInsight and GreenInsight products across the Public and Private sectors. The first two team members are focusing on the NHS in support of the NHS Carbon Footprint project and also to Local Government, with two more joining in the next few weeks, who will focus on Universities, Housing Associations and Central Government.
In all they have identified a whopping 10,000 UK-based prospects for their analysis offerings at £10,000 each for either Spend Analysis or Green Analysis – that’s a substantial number of
prospects!
We remain of the view that partnering with a larger company might be a good option for the Group. They would sacrifice some margin but it could lead to greater overall sales and exposure to much larger contracts under the management of experienced teams. They are currently working with a large public sector outsourcer who has a good understanding of their offering and who could be an ideal partner, or even acquirer!
This entry was posted 3 months, 2 weeks ago.
