Business
Preliminary Final Results
Preliminary Final Results.
About this update from Altitude Group Plc
[{"type":"text","content":"\n \nRNS Number : 8120D Altitude Group PLC 02 May 2013 \n \n\n2 May 2013\n \nAIM: ALT\n \nAltitude Group plc\n(\"Altitude\", the \"Group\" or the \"Company\")\n \nUnaudited Preliminary Results for the year to 31 December 2012\n \nAltitude announces its unaudited preliminary results for the year to 31 December 2012.\n \nHighlights:\n\n\n\n Revenue from continuing operations increased by 15% to £4.07m (2011: £3.54m)\n\n\n\n\n\n Gross profit from continuing operations increased by 23% to £3.25m (2011: £2.63m)\n\n\n\n\n\n Operating loss* from continuing operations of £0.40m (2011: £0.15m) after R&D expenditure of £0.47m \n (2011: £0.43m)\n\n\n\n\n\n\n Milestone accounts of EmbroidMe and Signarama secured during the year and installations completing \n to schedule\n\n\n\n\n\n\n North American annualised recurring revenues increased to $1.2m by 31 December 2012\n\n\n\n\n\n Strong cash position and no debt\n\n\n \n \n* Underlying operating loss before amortisation of intangible assets, non-recurring administrative expenses and share based payment charges\n \nStephen Yapp, Non-Executive Chairman of Altitude commented:\n \nDuring the last two years, the Group's objectives have been refocused to areas providing considerable long-term opportunity to create meaningful shareholder value. The customer base continues to expand; we carry no net debt and will benefit from increasing visibility of recurring revenues. As I assume the position of Chairman, the Company is well placed to capitalise on the opportunities before it and we will continue to refine our strategy for building on the progress made and delivering on the substantial potential for growth.\n \n \n \n The Company's Unaudited Preliminary Results are available on its website www.altitudeplc.com\n \nEnquiries:\n \n\n\n\n\nAltitude Group plc\nStephen Yapp (Chairman)\nMartin Varley (Chief Executive) \n\n\n \n &nbs...