Altitude Group 1H Promotional Rev Up 13% Year on Year

7th Jul 2010 10:13

LONDON (Dow Jones)--Altitude Group Plc (ALT.LN), a promotional merchandise and marketing services solutions group, announced Wednesday for the half-year ended June 30, its promotional marketing revenue has risen by 13% year on year. MAIN FACTS: -Strong revenue growth in 2nd quarter 2010 v 2009 -Improved cash position: GBP156,000 (30 June 2009: net debt GBP261,000) -No long term debt -In its information and exhibitions business, for which orders are received up to a year in advance, invoiced sales for 2010 are similar to 2009 but also at a lower cost base. -Bookings and potential yield for the 2011 events and products are ahead of the same period last year and will show a return to revenue growth in 2011. -Overall the company is seeing increased customer activity and the return to the market of recently inactive clients, whilst it remains cautious, the company currently has a number of new opportunities to deliver further performance improvements. -Shares at 0911 GMT up 0.5 pence, or 5.88%, at 9 pence. -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; [email protected] (END) Dow Jones Newswires July 07, 2010 05:13 ET (09:13 GMT)