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Altitude Group PLC - Sheffield-based promotional products firm - Expects to report annual results for year ended on March 31 to be at least in line with market expectations, with revenue rising by about 49% and adjusted earnings before interest, tax, depreciation and amortisation of about 75%. For financial 2022, revenue was GBP11.9 million. Pretax loss was GBP157,000.
Says its Merchanting unit continues to expand via its Adjacent Market programmes, which are "progressing well with further contracts having been signed and other contracts now entering the final stages of legal negotiations". Additionally, says it has now signed USD1.7 million credit facility with TD Bank N.A. is currently undrawn. Looking ahead, says initial trading has continued to be strong for financial 2024.
Chief Executive Officer Nichole Stella says: "We are pleased with the continued momentum and positive start that we are experiencing in the early days of our current financial year."
Back in November, Altitude reported revenue of GBP7.7 million for the six months ended September 30, up 29% from GBP5.9 million the year before. Pretax loss narrowed to GBP133,000 from GBP414,000.
Current stock price: 42.90 pence each, up 2.1% on Thursday morning in London
12-month change: up 59%
By Xindi Wei, Alliance News reporter
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