Updates

Altitude - Market awaits Channl traction data

June 2017

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During the month, Altitude raised £2.5m via a placing at 60p with new broker Finncap. £1.7m is for working capital and £0.8m funds the acquisition of ADP (rationale below).Separately, Altitude reported results for the year to end March. These are of academic interest only given that the new business (Channl) for the US promotional goods market launched on 13 February (not October as anticipated- to avoid Christmas period). As it was, sales were £4.3m with an adjusted pretax profit of £0.2m, which derives from its UK promotional goods exhibition and software. Net cash at December was £0.7m.Old timers will recall Altitude is the brainchild of Martin Varley, the former MD of 4Impri ...

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