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05 Sep 2019 | 08:53

Altitude expects revenue to jump 42% in H1, but US growth will track below expectations in H2

Personalised products marketplace Altitude said it expected revenue to rise 42% in the first half of the year, though warned that US revenues in the second half of the year would track below expectations.

For the six-month period ending 30 June 2019, the company expected to report revenue rose 42% to approximately £5.4m.

US revenue grew six-fold to $1.9m for the quarter ended 30 Jun, though this was not as quickly as envisaged by the company, due to the scale and complexity of the transition to its new business model, the company said. 'This means that, despite growing at an historically record pace, Q3 and Q4 revenues will track below expectations and it will take longer to achieve the forecasted levels,' the company warned. The group expected to announce its interim results for this period on 30 Sep 2019.

At 8:53am: (LON:ALT) Altitude Group PLC share price was -28p at 64.5p

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