News blog

Altitude Group

  • BY: Andrew Hore |
  • POSTED: 25/09/2011 |

Altitude Group is widening the customer base for its software and increasing the potential size of its market.

Altitude sold its promotional products business in order to focus on the development of its software business. The software was initially aimed at promotional products suppliers, which use it to handle supplier orders, customer relationship management, accounts and ecommerce. They pay a monthly fee for the software. It can be integrated with accounting software Quick Books.

The promotional products market for the software is worth around £100m but newer areas, such as print management.

Revenues grew from £2.19m to £2.46m in the Altitude runs a profitable trade only show every January. This grew its revenues from £456,000 to £726,000 so it effectively accounted for the growth in group revenues. Now that management can concentrate on the software business this should fuel the growth this year. The first major US customer, iPromoteU, should launch in the fourth quarter. 

Profit fell from £262,000 to £63,000 but that was due to one-off expenses and an amortisation charge.

There was an overdraft of £1.12m at the end of June 2011 but there was consideration for the disposal due after the period end and £2.2m has been received.

At 28.5p a share, Altitude is valued at £12m.

Download the September 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFSeptember2011_24.pdf

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds