Share Prices & Company Research

Market News

30 Sep 2019 | 14:49

Altitude posts first-half loss as US investment spend offsets revenue rise

Marketplace for personalised products Altitude posted a deeper first-half loss after rising revenue was offset by investment spending in the US.

Pre-tax losses for the six months through June amounted to £0.9m, compared to losses of £0.7m on-year.

Revenue rose 43% to £5.4m.

'The board remains confident,' chief executive Nichole Stella said.

'We have harnessed initial rapid growth following the acquisition of AIM in the US and this business has been integrated well.'

'Whilst the pace of revenue growth in the early phases was slower than anticipated, we have an immense opportunity and the US business is now profitable and cash generative.'

'We will continue to see growth in members, suppliers and take up of enhanced packages.'

'The board is confident that the potential for Altitude is significant, and that the acquisition of AIM is transformative for the group.' Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.