REG - Altitude Group PLC - Trading Update

AltitudeAnnouncement

25/10/2022 07:00

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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.
£7.6 million (H1 22: £5.9 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. With 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 £13.9 million and adjusted EBITDA of £1.2 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 5000

 Dan Bate / David Foreman / James Edis (Investment Banking)

 Dominic King (Corporate Broking)

 

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