ATA Group 'well placed to prosper in uncertain year'

Published on Tuesday 15 April 2008 21:34

SMALL BUT BEAUTIFUL

HUMAN resource support services firm ATA Group posted good full-year results and said it was well placed to prosper in 2008 despite the uncertain market conditions.

Revenue for the year rose to 23.6 million from 18.1m previously while operating profit before exceptionals came in at 747,000 compared with the loss of 116,000 in 2006.

Pre-tax profit at the firm, which has a market cap of 2.95m, was 746,000 versus 858,000 in 2006. In 2006, the group received an exceptional gain of 974,000 from an insurance payout after the death of its then chief executive Clive Chapman.

It said in a statement: "We are favourably placed to continue to prosper in 2008, a year which is likely to be mired in uncertainties and threats on both a local and global scale." It added: "Although at this stage it is difficult to forecast the impact on trading as a consequence of the turmoil in the global financial sector and slowing world economies, we enter this period serving solid industries and the group has a strong balance sheet and no borrowings."

Dividends for the year were increased to 4p per share from 3p.