Business
Trading Update and New University Contract Awards
Trading Update and New University Contract Awards.
About this update from Altitude Group Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the Group's obligations under Article 17 of MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n31 March 2025\n \nAltitude Group plc\n(\"Altitude\", the \"Group\" or the \"Company\")\n \nTrading Update\nNew University Contract Awards\nand\nNotice of Results\nAltitude Group Plc (AIM: ALT), the leading end-to-end solutions provider for branded merchandise, is pleased to provide a trading update for the year ending 31 March 2025, ahead of the announcement of its full year results expected to be released on 29 July 2025 (\"FY25\").\nTrading Update\nThe Group's financial performance in FY25 is expected to demonstrate significant year on year growth.\nRevenue for the period is expected to be within the range of £27m to £29 million (FY24 £24.0 million) an increase of between 12.5% and 20.8%. The Company has yet to receive confirmation of the value of important AIM Partner revenues and graduation merchandise revenue for FY25, hence the cautious range.\nAdjusted operating profit* for the year is correspondingly expected to be within the range of £2.7million to £2.9 million (FY24 £2.4 million) an increase of between 12.5% and 20.8% on FY24.\nExpected FY25 Revenue and Adjusted Operating Profit have been adversely impacted by currency exchange movements (versus the forecast rate of £1.00/$1.25) of £0.6m and £0.1m respectively.\nAdjusted profit before tax** for the year is expected to be within the range of £1.2million to £1.4million (FY24 £1.2m), and net cash is expected to be c.£0.4million as at 31 March 2025.\nWhilst there was belief that the new governmental administration would positively impact the US economy in the first quarter of 2025, uncertainty regarding trade wars and tariffs have continued to impact the US economy. As such, the promotional products industry has experienced a well-publicised continued softness of activity. This softness has had an impact on the Group's Promotional Products focussed divisions reflecting deferred purchasing decisions. Moreover, ther...