Contract deferrals to hit Atlantic Global's turnover

The company, based in Cleckheaton, West Yorkshire, said it expects an annual pre-tax loss of not more than 230,000 for the 2010 financial year.

The group, which designs and sells software which is used by businesses to manage their resources, said a number of substantial contracts have been deferred although the directors expect these to be signed off in early 2011.

The year end cash balance is expected to be above 2m. It was 2.03m at the end of last year.

Atlantic said it has secured an increasing number of blue-chip customers during the past six months including Merseyside Police, Quadratek Consulting, British Computer Society and Friends Provident. It added that the pipeline for new business prospects is "satisfactory".

Since the launch of its fully automated self service SaaS product last month, it has secured 150 new trials.

Based on this early feedback, the directors said they are confident about the market reaction to this new offering.

Atlantic Global, whose mana-ging director is Eugene Blaine, said that the introduction of the automated SaaS platform will provide an effective means of targeting small and medium-sized enterprises including individual departments within a larger organisation.

The company expects to conclude a number of partnership deals in the US, Middle East and the UK during early 2011, which are all in a state of advanced negotiations.

It has secured 330,000 of its budgeted 2011 support revenue and together with SaaS revenue, the company has already secured turnover of more than 400,000 in 2011.

The results for the year to December 2010 will be announced next March.

Trading has been challenging this year as Atlantic's customers' IT budgets have remained under pressure.

The group, which designs and sells business and resource management software applications, was established in 1993.

Atlantic develops cost-effective software applications to manage projects and improve the management of the business.

In collaboration with long-standing clients such as GlaxoSmithKline, Pfizer and Aviva (Norwich Union), Atlantic Global has developed a best-of-breed solution.

This is a comprehensive suite of business software designed to manage every aspect of business, ranging from simple timesheet and expense management all the way up to Project Portfolio Management (PPM).