Trading Update and Contract Wins
January 26 2009 - 2:00AM
UK Regulatory
TIDMATCG
RNS Number : 2075M
AT Communications Group Plc
26 January 2009
ATCG.L
AT Communications Group plc
("ATC" or "the Group")
ATC is an award-winning supplier of Information and Communication Technology
("ICT") solutions
www.atcommunications.co.uk
Trading Update and Contract Wins
The Board of ATC today announces a trading update for the year to 31st December
2008, together with news of significant contract wins.
The Group expects to report turnover and EBITDA in line with expectations at
approximately GBP97 million and GBP8.8 million respectively, and pre-tax and
pre-goodwill profits in the order of GBP6 million. Net debt at 31st December
2008 was approximately GBP18 million, a reduction of GBP4 million since 30th
June 2008. The Group expects net debt to reduce further in the first half of
2009 due to on-going projects and continued working capital initiatives.
The Group is also pleased to report that it has secured a new three year
contract with BT to provide professional sales services to expand BT's
contracted PBX (Private Branch Exchange) maintenance revenues. This agreement is
expected to generate several million pounds worth of new maintenance contracts,
some of which will be supported by Servassure under its existing third party
maintenance programme with BT.
In addition, the Group has started the year with a strong order book and expects
to shortly announce further major contracts wins from its Servassure division.
The Group remains focused on effective working capital management with all new
business underpinning this strategy by being working capital positive.
On 3rd November 2008, the Group announced that it had received unsolicited
potential interest in one of its subsidiaries. Since that time, interest from
additional parties has been received and the Group has made significant progress
on this possible disposal. The Group will provide a further update on this in
due course.
The Board is delighted with the Group's strong start to 2009 and remains
confident of its future prospects.
Alex Tupman, CEO commented:-
"Our trading update is accompanied by a three year contract win with BT worth
several million pounds and a pipeline of new business, which is significantly
stronger than this time last year. I believe that these contract
wins demonstrate the strength of the Group's brand and quality of service and it
is especially pleasing to note that the recent investment in our Servassure
division has delivered results beyond our expectations. Whilst we remain mindful
of the prevailing economic climate, the Group has made a very strong start to
the year and we remain confident of the Group's long term prospects."
Enquiries:
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| AT Communications Group plc | |
+------------------------------------+------------------------------------+
| Alex Tupman, Chief Executive | 08700 55 80 80 |
+------------------------------------+------------------------------------+
| www.atcommunications.co.uk | |
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| | |
+------------------------------------+------------------------------------+
| Cenkos Securities plc | |
+------------------------------------+------------------------------------+
| Stephen Keys | 020 7397 8924 |
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| | |
+------------------------------------+------------------------------------+
| Biddicks | |
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| Shane Dolan | 020 7448 1000 |
+------------------------------------+------------------------------------+
Notes to Editors
About AT Communications Group plc
ATC is one of the UK's largest independent business communications groups and is
listed on the London Stock Exchange (AIM). The Group offers a comprehensive
portfolio of voice, data, mobile and video solutions, specialising in IP
technology, alongside managed services, e-commerce, design consultancy,
installation and maintenance. ATC operates under three divisions to ensure total
market coverage. Each division operates independently but shares resources to
ensure best practice at divisional level without duplication of effort.
www.atcommunications.co.uk
ATC Solutions:
A leading business systems integrator, ATC Solutions is accredited at the
highest level with leading ICT manufacturers and continues to craft
best-of-breed solutions, supported by in-house service capabilities to SME and
corporate customers directly. ATC Solutions' customer base now totals over
10,000 and includes the majority of the Times 500 companies.
www.atc.co.uk
Rocom:
Rocom has over twenty years of experience in the communications market and
focuses on resellers and dealers as well as retail channels for online services.
It is the only UK distributor with the ability to distribute IP-based Customer
Premises Equipment, Hosted IP Communications, and in-house Network Services to
assist channels and their customers in managing the transition to IP-based
solutions.
www.rocom.co.uk
Servassure:
A fully independent third party service provider to channel partners in the UK
ICT market - including ATC Solutions and Rocom. Servassure was formed in January
2007 to provide traditional and IP-based carrier and engineering services with a
100% channel focus. Servassure targets and supplies large channels including
network operators such as BT and Colt and systems integrators such as Siemens
who require a more customised level of service and support than a traditional,
smaller channel.
www.servassure.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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