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Altitude losses widen in H1 on lower margins
StockMarketWire.com
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Promotional products marketplace Altitude reports wider losses in the first half of the year loss as lower margins offset an increase in revenue.
For the six months to 30 September 2020, the company reported a pre-tax loss of £0.6 million from a profit of £0.4 million seen a year earlier, while revenue rose 36% to £4.4 million.
Gross margin fell to 57% from 92%, reflecting lower margins on AIM Smarter group buy activities, the company said.
'Since the acquisition of AIM in 2019, we have worked tirelessly to develop the foundation and strategy of the business and have driven significant growth in both revenue and profit,' it added.
At 8:47am: (LON:ALT) Altitude Group PLC share price was 0p at 16.9p
Story provided by StockMarketWire.com
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