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seems to be waking up!
Yep...loss making but improving...loss down, admin costs down and now cashed up too. Worth watching considering the director buy too. Hope ur well mate....also saw atqt as new company.
busy going nowhere? ...feels a bit like spe (but without the convertible loan nonsense)
Good director buy this week (£22K). interesting here
North American annualised recurring revenues increased to $1.2m by 31 December 2012 Strong cash position and no debt V.Interesting
Revenues at Altitude Group (ALT) fell 16.2% to 2.46 million pounds in the six months to June following the disposal of the firm's promotional products division, while pre-tax profits at the IT services company slid 60.1% to 63,000 pounds following the amortisation of intangibles and a significant increase in administration expenses. The group has set out a product roadmap for the next twelve months, which will see the introduction of iPad, iPhone and Android applications for customers.
Altitude Group (ALT), the promotional merchandise and marketing solutions group, is to dispose of its Promotional Products Division (PPD) for 6.27 million. The buyer to Stridage Holdings Limited, a newly established business which is partly owned by certain members of the management teams of PPD. This is a significant transaction for the group, with PPD making up 84% of group revenues in the last financial year. The disposal is being made so the company can focus on its Information and Technology Division. The shares sank by 2p to 29.5p.
http://www.investegate.co.uk/Article.aspx?id=201106130700102855I
ernative
Shares in Altitude Group (ALT) rose 1p to 24p as the marketing services group moved a step closer to off-loading its promotional marketing division after receiving a preliminary indicative offer from an un-named firm. "A sale of the promotional marketing division would be in line with our strategy to transform the group into a focused Information and Technology business under the Trade Only brand," commented Colin Cooke, chairman of Altitude.
A sterling performance from last years results but surely the figures released here must have already been built into the SP becuase the move today is minimal - or is it just general market sentiment and the rise will come later when world issues calm down slightly?
Colin Cooke, Non-Executive Chairman of Altitude commented: "The Company has made great progress since the Board restructuring in early 2008, is well positioned, profitable and cash generative, and despite the substantial improvements in the last 18 months, we believe that opportunities exist to advance the business performance further in the coming year. We enter 2011 with a number of opportunities, a dedicated management team, an appropriately structured cost base and a strong balance sheet."
Unaudited Preliminary Results for the year to 31 December 2010 Altitude announces its unaudited preliminary results for the year to 31 December 2010. Highlights: · Underlying Operating Profit* increased by 292% to £808k (2009: £277k) · PBIT increased by £1,126k to £511k (2009: £615k loss) · Group revenues up 18% to £18.0 million (2009: £15.3 million) · Revenues in Promotional Marketing division up by 20% · Cash generated from operations £1.1m (2009: £0.4m) · Closing cash of £1.5m (2009: £0.8m) with no net debt · Substantial Progress made with USA launch of Trade Only Cloud software solution
http://www.investegate.co.uk/Article.aspx?id=201103170700080858D
Altitude returns to profit By Caroline Jouan Date: Thursday 17 Mar 2011 LONDON (ShareCast) - Promotional merchandise company Altitude posted a return to pre-tax profit for the year ended 31 December 2010 and said it enters 2011 with a number of opportunities. Pre-tax profit was £511,000 in the year compared to a loss of £615,000 the same time a year earlier. Group revenue for the period increased 18% to £18m. Commenting on the results chairman Colin Cooke said the company has made, "great progress since the board restructuring in early 2008, is well positioned, profitable and cash generative, and despite the substantial improvements in the last 18 months, we believe that opportunities exist to advance the business performance further in the coming year." Underlying operating profit increased to £808,000 from £277,000 in 2009. Revenue in its Promotional Marketing division rose by 20%. Altitude, which announced earlier this month that it is buying Toronto-based Technologo for $1.9m in cash, said substantial progress made with the US launch of Trade Only Cloud software solution. Altitude said it closed the year with £1.5m cash and no debt.
Colin Cooke, Chairman of Altitude, commented: "I am delighted that we have agreed terms to purchase the business and assets of Technologo. This represents an important step in our strategy to reposition Trade Only as a stand-alone business within Altitude, and to develop its business in the provision of Cloud-based business solutions and information services. I welcome the highly experienced employees from Technologo who will help us to deliver our solutions to existing and prospective customers within the substantial North American market". Martin Varley, Chief Executive of Altitude and President of Trade Only, commented: "The promotional merchandise industry is highly fragmented and underserved from an integrated business solutions and information services perspective. Trade Only's Cloud-based services facilitate both operational efficiency gains to our customers as well as the ability to drive new customer acquisition and revenue growth. I believe the combination of Technologo and Trade Only will create a compelling offering for the North American market."
http://www.investegate.co.uk/Article.aspx?id=201103070700164113C
Date: Monday 07 Mar 2011 LONDON (ShareCast) - Promotional merchandise and marketing firm Altitude is buying the business and assets of Technologo, which provides virtual sample services to the promotional product industry. AIM-quoted Altitude is buying the Toronto-based business from Landmark Corporate Marketing Services for $1.9m in cash. The customer base is in North America and Europe. Technologo made underlying operating profit of $150,000 on revenues of $800,000 in 2010. Altitude already offers Cloud Computing-based services through Trade Only and combining the two operations will provide a better service to the fragmented promotional merchandise market, particularly in North America. The service provided helps customers to be more efficient and reduce costs. Trade Only has already been using Technologo’s technology for several years. The deal should be completed in April.
LONDON (Dow Jones)--Altitude Group PLC (ALT.LN), a promotional merchandise and marketing solutions group, Monday said overall group revenue for fiscal 2010 is expected to be up 18% to GBP18.1 million and added that profit should be in line with market expectations MAIN FACTS: -Revenue in Promotional Marketing division up by 20% -Bookings for January exhibition event up by 15% on 2010 -Cash balances of GBP1.5 million (2009: GBP0.8 million) at year end with no debt -Strong balance sheet -Enters 2011 with a number of opportunities, an appropriately structured cost base and a strong balance sheet. -Shares closed Friday at 25.5 pence valuing the company at GBP9.7 million. -By Peter Evans, Dow Jones Newswires; 44-20-7842-9308; peter.evans@dowjones.com (END) Dow Jones Newswires January 17, 2011 02:21 ET (07:21 GMT)
Although the interims are not dynamic as previously suggested, the Board alleges that they view the next few months positively bearing in mind the economic challenges. However the interims did throw up the fact that earnings had risen from .1p to .6p per share. That suggests a price earnings of some 27.5, that is a huge improvement from previous. Gross profits more or less in line with previous but a rise to £3.8Mns. Adjusted operating profit came in at £436k a rise of 68%, pre tax profits rose 98% to £273k. And with net cash improving from a shortfall of £1/2M to a positive £1.1Mns net. A continued restructuring is ongoing and is running to plan the Co states.