ALT Altitude Group Plc

TIDMALT

RNS Number : 5778W

Altitude Group PLC

12 December 2019

12 December 2019

ALTITUDE GROUP PLC

(the "Company", the "Group" or "Altitude")

Trading update

Altitude Group plc (AIM: ALT), the operator of the leading marketplace for personalised products, provides a trading update for the 9-month period to 30 September 2019 (the "Period"). The Board is pleased to report that the Group remains on track to deliver full year results for the 15 months to 31 March 2020 in line with market expectations.

The Group continues to grow the revenue base of the AIM Smarter business in the United States by focusing on engagement with, and service provision to both sides of the AIM Smarter marketplace. This has resulted in US revenue for the Period growing to $4.6 million, representing a nine-fold increase versus 2018. The Third Quarter, represents just the second full quarter of revenue since the acquisition of AIM and is delivering in line with management expectations. Group revenue for the Period was GBP8.1 million compared to GBP5.3 million in the same period last year.

The Group will issue a detailed trading update for the twelve months to 31 December 2019 in March 2020 after it has reconciled revenue for the period to 31 December 2019.

Nichole Stella, Chief Executive Officer, commented:

"We are focused on our strategy to grow the AIM Smarter business by offering great value to both sides of the marketplace. Momentum has continued through the third quarter and I am confident that we will meet expectations for the year and that we have the strategy and model to drive growth through 2020 and beyond."

Enquiries:

 
 Altitude Group plc                            Via Instinctif - 020 7457 
  Nichole Stella, Chief Executive                                   2020 
  Officer 
  Graeme Couturier, Chief Financial 
  Officer 
  Peter Hallett, Non-Executive Chairman 
 finnCap ltd 
  Scott Mathieson (Corporate Finance) 
  Max Bullen-Smith (Corporate Finance) 
  Richard Chambers (ECM)                                   020 7220 0500 
 Instinctif Partners (Financial                            020 7457 2020 
  PR) 
  Matthew Smallwood 
  Chantal Woolcock 
 
 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

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