ATCG Results due monday expected to be good, returned to profit last interims, major new contracts won recently with Vanco, Siemens and extended contract with BT for a further 6 years. Share price has suffered lately due to Mark Woodbridge leaving (he was previously director of Torex Retail June 2000 to 2003). Expect a strong recovery on back of these contract wins and aquisition of Rocom

AT Communications Group Plc
06 December 2006

6 December 2006



AT Communications Group Plc

Trading update and major new contract win



AT Communications Group Plc (AIM: ATCG; 'ATC' or the 'Group'), one of the UK's
leading business to business communications groups, today announces a trading
update for the year to 31 December 2006 including expected profits and progress
on the integration of Rocom, as well as a major contract win with Siemens.

Trading continues to be generally strong, with the Group awarded a substantial
new contract with Siemens Enterprise Communications for online services using
Rocom proprietary e-trading platform, RocomX, as well as the provision of
managed services.

The Board expects to secure additional contracts during Q4 but the bulk of these
revenues will be recognised in 2007. The Group expects to report pre-tax and
pre-goodwill profits in the order of 4.5 million, having reported a loss in the
previous financial year. The Board also expects to pay a maiden dividend for
the year to 31 December 2006.

Since the Rocom acquisition in August 2006, the Group has largely completed the
reorganisation and integration programme and will fully operate as three key
business units with effect from January 2007.

The Rocom brand is now used for all distribution and channel customers with ATC
indirect (channel) customers now serviced by Rocom, as service teams of both
organisations are fully integrated. Cross-selling opportunities across the
direct sales teams are also already being exploited.

The Group is about to launch a newly branded Service division which comprises
engineering and technical service delivery to direct and channel customers as
well as third parties such as BT and Vanco.

THought this was due an update, seems stuck at the bottom at present but news is all good.

Recently renewed and increased a contract by 2.5 million a year and director buying.

p/e currently about 7.

Expect to see 50p in the medium term.

The Company was informed on Friday 16 November 2007 that Alex Tupman, Chief
Executive of AT Communications, has acquired 500,000 ordinary shares in the
Company, representing 0.65 per cent of the Company's issued share capital at a
price of 34.5p per share. Following the acquisition, Mr Tupman has a beneficial
interest in 12,597,044 ordinary shares, representing 16.3 per cent of the
Company's issued share capital.

Bought into these today seem to be winning some nice orders, on a low PE and I'll see how they are post the March results. Got them cheaper than a couple of directors paid for theirs. Good luck all.
2517

They have had some good contract wins and the news today is positive re awarded approved supplier status to OGC Buying Solutions. The last trading update was positive, and good to see they are trying to reduce debt levels, now forecast to be cut another 4.0m this year to 12.8m.

Still have ATCG on watch list, I'm just wary of buying AIM companies until markets settle down, and the new capital gains tax measures have worked there way out for this financial year.

Will keep following with a view to buy.

http://www.investegate.co.uk/Article.aspx?id=200803030700021456P

AT Communications Group Plc
29 February 2008

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

De La Rue plc awards multimillion pound contract to ATC

The Board of ATC is delighted to announce that the Group's ATC Solutions
division has secured a landmark three year contract with De La Rue plc, the FTSE 250, world-leading currency production and cash handling company.

Under a three year global master services framework contract, ATC will provide,
install and service IP Telephony across De la Rue's global business units. The
deployment will take place in stages commencing with immediate effect and will
cover the UK, Switzerland, USA and Canada. The contract is anticipated to be
worth several million pounds over the period with maintenance revenues
generating a similar amount.

Chris Johnson, Director of IS at De La Rue plc commented:-

'We selected ATC Solutions because it could provide our business with a
complete, full-spectrum service right through from consultancy and design to
implementation. This integrated approach also removed the need to engage
multiple suppliers which, as a global business, is both more efficient and cost
effective.'

Alex Tupman, CEO of ATC, commented:

'This is a landmark contract win with De La Rue and a quantum leap for the Group as it demonstrates our ability to deliver managed solutions on a global basis, providing business transformation to our customers and enabling them to maximise the benefits of IP technology. In tandem with recent contract wins including Amazon plc, this demonstrates the significant progress that the Group is making in securing larger, blue-chip contracts and it is testimony to the success of our recent divisional re-organisation. I look forward to reporting further progress in due course.'

what seems to be the problem with this stock

Write up in the sunday press indicating they were cheap in view of the De La Rue contract.
2517

its the debt position holding ATCG back otherwise I would expect a re-rating

What exactly is the debt situation here?
It would seem that the share trading ,i.e. all sells this morning , bears no relation ship to the companies prospects.

Nice contract win.
2517

This is all very well,but nothing seems to be able to shift the price much.
Results out next week,maybe that will help.

Let's hope so cp.
2517

Well it didn't (help) sold out this am.
2517

Despite good profit before ammortisation etc, the debt situation will continue to hold back the sp of ATCG in the current climate but there is a good underlying story here that will eventually see a correction in sp aligned to sector PE or maybe a take-over.

KBC Peel Hunt say "SELL"



AT Communications (ATCG) Initiation of Coverage:

Results in line EST: N/A, REC: SELL

While AT Communications appears undervalued, at only 5x adj EPS as reported today for the period ending December 2007 and in line with our forecasts at every level, we will wait for confirmation of delivery of positive key operating trends before upgrading our recommendation. With more potential negative than positive company and market triggers, we believe we are at least six months away from a change in the tide of sentiment should the company continue to deliver in line with expectations, as that is when improving fundamentals might confirm control of net debt (which admittedly is already less than 2x EBITDA, but still must deter consolidators and prevent AT from making further substantial acquisitions).

Keep an eye on ATC: development of trends to the September interims will be the key and we are impressed with the developments in the product lines. Despite recent good newsflow in contract wins, and improvement in metrics, we still need to see these are a trend. One for the brave at the moment and one to watch in six months time when interim performance becomes apparent, with a potential 50% upward shareprice movement, if recovery is proven, in our opinion.

At 4.4x December 2008E PER, and a 3.5% dividend yield the stock appears cheap but not yet compelling with so many macro and stock specific risk factors.

Easy money ??

http://www.independent.co.uk/news/business/news/management-poised-for-technology-buyout-877990.html

Management poised for technology buyout

By Simon Evans
Sunday, 27 July 2008

The management of AT Communications, an Alternative Investment Market technology firm, is expected to table a buyout offer for the firm this week.


Led by chief executive Alex Tupman, who founded AT in 1999, management is thought ready to table an offer to shareholders of around 40p to take the company private.

The shares closed at 22.95p last Friday, up 3 per cent on the day. However, AT's share price has halved in just over a year.

Cenkos, the company's broker, is said to be advising the management team on its attempted buyout.

Results for 2007 at the Harlow-based AT, which employs around 500 people, showed turnover up by 63 per cent to 88.4m, while pre-tax profits grew by 35 per cent to 6.2m.

The company revealed earlier this month that it had signed a three-year deal with Cable & Wireless that would boost revenues by more than 5m.

A spokesman for AT did not return calls.

worth buying today then?

If you believe the rumour then yes.

If its true you should be able to see around 37p after its confirmed.

If its not confirmed you might get stuck holding them, thats the downside.

desnt appear to be true then

Interesting statement, so the rumour must have come from a recently departed perhaps, telling the media in order to prevent or at least disrupt the plans and make others aware who might come in with a bid ????

Do not know who it could be........


I think therefore in the coming months there will be an offer, all they have said today is they are not in official talks regarding an offer as of this morning.

If you have any faith left in quality value stocks and are taking a long term (2 year) view then this must be as close to the bottom as we are ever going to get. Speculative talk of management buyouts will certainly raise the profile of this undervalued growth stock. Debt should be reduced comfortably and the potential is great.

However market conditions dictate that even the best stocks will get knocked by sentiment and none more so than tiddlers on AIM.

There can be no question that there are bargains out there with respect to fundamentals but they (fundamentals) no longer matter when sentiment is causing funds to sell off and investors to turn to cash.