Altitude Group PLC Trading Update (9436D)
25 October 2022 - 5:00PM
UK Regulatory
TIDMALT
RNS Number : 9436D
Altitude Group PLC
25 October 2022
Altitude Group plc
("Altitude" or the "Company")
Trading Update
Altitude Group Reports Strong Trading Driven by Underlying
Business Growth
Altitude Group plc (AIM: ALT), the operator of a leading
marketplace for personalised products, today issues a trading
update for the six months ended 30 September 2022 ("H1 23").
The Board is pleased to report the Group has delivered another
excellent period of growth, driven by successes across all key
Services and Merchanting programmes. Unaudited revenue for H1 23 is
expected to be no less than c. GBP7.6 million (H1 22: GBP5.9
million) an increase of c.30%. As a result of the strong underlying
business performance, an advantageous exchange rate and having not
experienced any negative impact to date from the current
macro-economic turbulence, we continue to trade well and expect to
be at least in line with market expectations for the financial year
to 31 March 2023*.
This continued growth is being driven by our strategic focus on
and continuous development of both our Services and Merchanting
programmes, which have delivered strong trading.
Our core systems and people infrastructure have been developed
and are designed for continued scalable growth underpinning our
long-term success.
It is testament to the hard work of our team, our strong partner
relationships, and our market leading customer proposition, that we
are able to report such strong trading and continued growth. W ith
continued focus on our strategy to scale the business and with the
Company well placed for accelerated future growth, the Board
remains confident in its positive outlook for the future.
We look forward to announcing our H1 23 interim results on 29
November 2022.
*External market consensus for the year ending 31 March 2023 is
currently revenue of GBP13.9 million and adjusted EBITDA of GBP1.2
million.
For enquiries, please contact:
Altitude Group plc Via Zeus Capital
Nichole Stella, Chief Executive Officer
Graham Feltham, Chief Financial Officer
Zeus (Nominated Adviser & Broker) Tel: 0203 829
Dan Bate / David Foreman / James Edis (Investment 5000
Banking)
Dominic King (Corporate Broking)
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END
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