TIDMALT

RNS Number : 7770W

Altitude Group PLC

14 February 2017

Altitude Group plc

("Altitude", the "Company" or the "Group")

Trading Update;

Initiation of Click 2 Ship Engagement; and

Launch of "Channl" brand

Altitude, the provider of innovative technology solutions for small to medium sized businesses, is pleased to announce that results for the year ended 31 December 2016 are expected, subject to audit, to be marginally ahead of market expectations due to tight control of costs. Annualised cost reductions of approximately GBP1.8 million resulting from the significant restructuring of the Group were realised during the year.

In the interim results for the six months ended 30 June 2016, the Company announced its intention to create the first Click 2 Ship ("C2S") websites (the "Sites") for promotional products resellers during the last quarter of 2016. The total number of Sites created in this period was just over 22,000. All the Sites were issued via our two key trading partners in the USA, Aprinta and AI Mastermind.

Each C2S Site provides a full ecommerce platform to personalised product resellers, including a product database, product visualisation, cart, order management and production-ready artwork functionality at no cost to the reseller.

The Company is remunerated as a percentage of supplier revenue processed through the online trading platform. The Board believes this compelling offer is potentially structurally changing in the highly fragmented personalised and promotional product, signage and printed wearables industries within the USA, a market estimated to be worth more than $25 billion per annum.

Today the Company also announces the commencement of a low cost digital email marketing campaign, which begins the process of helping the 22,000 resellers to encourage their customers to trade online as their preferred B2B purchasing method, thus migrating a proportion of their business to our platform.

In addition the Company has finalised its branding for the C2S model, called Channl.com, which recognises the potential for wider application of the trading platform in the aggregation of online orders in fragmented markets.

The scale and speed of engagement will be carefully monitored and evaluated. The Company looks forward to making further announcements of continued progress as we begin to drive engagement and explore related opportunities for Channl.com

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

Enquiries:

 
 Altitude Group plc                   07887 987 
  Peter Hallett, Chairman                   469 
 
 WH Ireland Limited (Nominated 
  Adviser and Broker) 
  Tim Feather/Ed Allsopp          0113 394 6600

This information is provided by RNS

The company news service from the London Stock Exchange

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