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)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTBKQBKFBDDFKB

(END) Dow Jones Newswires

October 25, 2022 02:00 ET (06:00 GMT)

Altitude (LSE:ALT)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Altitude Charts.
Altitude (LSE:ALT)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Altitude Charts.