Business
Trading update and Notice of Interim Results
Trading update and Notice of Interim Results.
About this update from Altitude Group Plc
[{"type":"text","content":"\n \nRNS Number : 3286M Altitude Group PLC 15 August 2011 \n \n\nAltitude Group plc\n(\"Altitude\" or the \"Company\" or the \"Group\")\nTrading Update and Notice of Interim Results\nAltitude Group plc (AIM: ALT), the provider of information and technology services to the promotional products industry, provides the following trading update. \nHighlights \n \n· Disposal of the Promotional Products Division (\"PPD\") to MBO team for £6.27m (mixture of cash and debt) in June 2011\n· Acquisition and integration of \"Technologo\" in March 2011 and \"The Logo Network\" in May 2011\n· Established US Sales and Support facility\n· US customer base growing strongly\n· The Company remains net debt free with a strong balance sheet\n \nTrading Update\n \nFollowing the disposal of the PPD, Altitude became an Information and Technology business under the Trade Only brand, which consists of Trade Only Limited in the UK, Trade Only Inc. in the USA and Trade Only Technology Services Ltd in Canada. \n \nThe Company's primary focus is now on the launch of its integrated cloud-based business management system for the promotional products industry, scheduled for the last quarter of 2011 in both the US and the UK. The response to the user experience and depth of functionality has been ahead of our expectations. In advance of the launch we have signed up over 800 users to our Trade Only products system in the USA.\n \nIn the UK, all Trade Only Limited customers have been offered the opportunity to migrate to the Cloud version when the product is launched and to enjoy the benefits of the lower total cost of ownership. \n \nTrade Only National Show (\"TONS\")\n \nThe 2011 TONS was our most successful ever with almost 3,000 visitors, 20% up on 2010. The 3 regional APG (Advertising Product Group) shows had over 500 visitors in total and the Spring Show had over 600, and bookings for 2012 are already at 90% of capacity.\n \nTrade Only has reached an agreement with Promotional Product Service Institute Germany (PSI), a division of Reed Elsevier Plc, to integrate a large pavilion specifically for PSI supplier members to exhibit at the 2012 TONS being held in Coventry. This will add an extra...