Altitude Group PLC Year-end trading update (6859V)
April 10 2019 - 1:00AM
UK Regulatory
TIDMALT
RNS Number : 6859V
Altitude Group PLC
10 April 2019
10 April 2019
ALTITUDE GROUP PLC
("Altitude", the "Group" or the "Company")
Year-end trading update, results notification and
post-acquisition update
Altitude Group plc (AIM: ALT), the operator of a leading
marketplace for personalised products, is pleased to provide a
trading update for the year ended 31 December 2018 and to provide
an update for the period following the successful equity placing
and acquisition of Advertising Industry Mastermind Group, LLC ("AI
Mastermind").
Trading for the year ended 31 December 2018 was in line with
market expectations and the Group expects to announce its
Preliminary Results for this period on 28 May 2019.
The Board is encouraged with the progress made since the
acquisition of AI Mastermind, the largest promotional products
distributor organization member group in the US. Integration has
gone well, with the team focussed on driving revenue from, and
delivering value to, both sides of the supply chain, increasing
member order volumes and value to our supply partners. The business
is continuing to increase membership and generate revenue through
enhanced marketing, technology and sales support with a particular
focus on the supply chain. As announced on 11 March 2019 we have
made, and continue to make, key additions to the team in the US who
will help to support and accelerate the opportunities available to
us.
Nichole Stella, Chief Executive Officer, commented:
"The Company made substantial progress in 2018 and has developed
further in the short period following the acquisition of AI
Mastermind and its subsequent rapid, successful integration. We
have made good initial progress and are encouraged that both
members and supplier partners are recognising our enhanced,
combined service. We are more convinced than ever about the
potential of our model and of the benefits that will be derived
following the acquisition of AI Mastermind. The Board looks forward
to providing a more detailed update on progress and the exciting
evolution of the business on 28 May 2019 when we publish our year
end results."
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation 596/2014 of
the Market Abuse Regulation
Enquiries:
Altitude Group plc - via Instinctif Partners 020 7457 2020
Nichole Stella, Chief Executive Officer
Graeme Couturier, Chief Financial Officer
Peter Hallett, Non-Executive Chairman
finnCap Ltd 020 7220 0500
Jonny Franklin-Adams / Scott Mathieson (Corporate Finance)
Richard Chambers (ECM)
Instinctif Partners 020 7457 2020
Matthew Smallwood
Chantal Woolcock
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END
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