Atlantic Lithium Regulatory News (ALL)

28 Jun 2006 07:01

Manpower Software PLC28 June 2006 MANPOWER SOFTWARE PLC (the "Company") TRADING UPDATE The Directors of Manpower Software plc announce today that, following theirinitial review of the results for the year ended 31 May 2006, turnover for theyear is likely to be about £4.3 million from which the Company will derive aloss before tax expected to be in the range £1.7 million to £1.8 million. Theshortfall in turnover and the extent of the loss compared to both budget andstock market expectations reflects delays in signing key contracts, eachcontaining a significant licence fee component. The Directors remain confidentthat the Company will secure these contracts during the course of the currentfinancial year, the first of which is expected to be signed imminently. The background to such delays was explained in the interim results announcementon 28 February 2006. The Directors drew attention to the fact that, while theCompany is bearing the cost of investment in its key markets, it remains highlydependent on a small number of large contracts in public sector markets whereconsiderable change is occurring, where the sales cycles are often long andcomplex, and where forecasting precise timing of closure has become moredifficult. Deferral or acceleration of only a few of these can have asignificant impact on the Company's results. The Directors are confident that the foundations put in place in 2005/6, coupledwith the significant potential opportunities in the three vertical marketsaddressed by the Company, will result in a satisfactory outcome in 2006/7. The Company's cash balances amounted to around £0.3 million as at 31 May 2006.The Directors believe that, taking into account the Company's availableoverdraft facility and cash due under contract, the Company continues to haveadequate resources for its present requirements. Enquiries: Manpower Software plcSimon Thorne, Finance Director 020 7389 9500 Shore CapitalAlex Borrelli 020 7408 4090 28 June 2006 This information is provided by RNS The company news service from the London Stock Exchange