Shares of the AIM-listed ATA Group (ATP.L) were up yesterday hitting a price of 39.00p following positive report on 2007 despite the slowdown in the economy.At first glance, it appears to be an impressive showing. Human resource group saw its revenue to grow to £23.6m from £18.1m previously while operating profit before exceptionals came in at £747,000 compared with the loss of 116,000 in 2006.
Sales at ATA grew by 30% to £23.6 million during the period, although pre-tax profits fell to £0.7 million from £0.9 million a year earlier.
The group, which has a market cap of £2.95m, believes it could continue its progress in 2008, however the present situation in the global economy makes the group worry about the 2008 performance.
"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," it added.
Dividends for the year were grew to 4p per share from 3p.
Up to the Sky
Reference
www.ata-group.co.uk
www.catalis.co.uk
http://business.scotsman.com/ebusiness/ATA-Group-39well-placed-.3984783.jp
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