Altitude Group PLC New Supply Agreements and Notice of Results (6579C)
19 April 2017 - 4:00PM
UK Regulatory
TIDMALT
RNS Number : 6579C
Altitude Group PLC
19 April 2017
Altitude Group plc
("Altitude" or the "Group")
New Supply Agreements and Notice of Full Year Results
Altitude (AIM: ALT), the provider of innovative technology
solutions for small to medium sized businesses, is pleased to
announce two new North America supply agreements and the date of
the publication of the results for the year ended 31 December
2016.
The first of the new agreements is with Market Brands LLC
("Market Brands"), based in Buffalo, New York State, USA. Under the
agreement, Market Brands has undertaken to recruit 100 new sales
staff who will target the creation of tens of thousands of branded
web stores for small businesses throughout the USA. The stores will
be powered by Altitude technology and fulfilled through Aprinta.
Altitude will be remunerated through a percentage of the sales
value of every order in line with the Group strategy.
Secondly, Altitude has signed an agreement for the supply of
print, signage and photo book products ("Print Products") with a
leading Tier One manufacturer in the USA that will enable the Group
to add these categories of products to its technology and supply
chain platform.
The Print Products to be provided through this partnership give
the Group access to the US$100 billion US print market and further
advances Altitude as the only technology platform that enables
resellers to offer, through www.channl.com, a wide range of
personalised products through a fully customisable web store,
totally free of charge.
Details of the provider are commercially sensitive but with a
peak output of more than 100,000 orders per day and manufacturing
efficiency that allows our resellers to compete on price and
service, the Directors expect that the partnership will create
substantial value for the Group and its resellers.
Commenting on the new agreements, Peter Hallett, Executive
Chairman, said: "Our strategy is to create a compelling offering
for promotional product distributors to enable them to create
online brand stores for every customer. The agreement with Market
Brands will accelerate our ability to engage with the SMEs who are
the end users of the products that pass through our network.
"The addition of Print Products is a natural extension to the
promotional product offering and increases our addressable
potential market four-fold without the need for substantial
technology development or investment.
"These new agreements underline the commercially attractive
nature of our business model and technology platform and we look
forward to updating the market in due course as to their
impact."
The Group will announce the results for the year ended 31
December 2016 in the week commencing 8 May 2017.
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
Enquiries:
Altitude Group plc
Peter Hallett, Chairman 07887 987469
WH Ireland Limited (Nominated
Adviser and Broker)
Tim Feather/Ed Allsopp 0113 394 6600
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGRUWAURBWASAUR
(END) Dow Jones Newswires
April 19, 2017 02:00 ET (06:00 GMT)
Altitude (LSE:ALT)
Historical Stock Chart
From Apr 2024 to May 2024
Altitude (LSE:ALT)
Historical Stock Chart
From May 2023 to May 2024