Altitude Group Regulatory News (ALT)

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.

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