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Altitude Group PLC on Tuesday said strong trading in its Services and Merchanting programmes will deliver substantial interim revenue growth, as the firm remains on track to deliver on market expectations for its full year.
The Sheffield-based firm operates a marketplace for personalised products. In the six months to September 30, it expects revenue to be no less than £7.6 million, which would be a 30% increase year-on-year from £5.9 million.
Trading continues to be strong, as a result of a solid underlying business performance, as well as favourable exchange rates. It has not experienced any negative impact from the current macroeconomic volatility, Altitude said.
"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," it explained.
Altitude now expects its annual performance to be "at least in line with market expectations". It cited market consensus as revenue of £13.9 million and adjusted earnings before interest, tax, depreciation and amortisation of £1.2 million. In financial 2022, Altitude posted revenue of £11.9 million and adjusted operating profit of £1.1 million.
"Our core systems and people infrastructure have been developed and are designed for continued scalable growth underpinning our long-term success," the firm added.
Shares in Altitude edged up 0.9% to 21.70 pence in London on Tuesday late morning.
It will release interim results on November 29.
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