Personalised products group sees revenues rise and is on target for full-year projections

Altitude Group, the AIM-listed Middleton-based personalised products business, said today that it remains on track to deliver full year results for the 15 months to March 31, 2020, in line with market expectations.

In a trading update covering the nine-month period to September 30, 2019, it said 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 $4.6m, 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 £8.1m, compared with £5.3m in the same period last year.

The group will issue a detailed trading update for the 12 months to December 31, 2019 in March 2020, after it has reconciled revenue for the period to December 31, 2019.

Chief executive Nichole Stella said: “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.”