Altitude H1 results show 'significant' YOY growth

27th Oct 2023 08:00

(Sharecast News) - End-to-end solutions provider Altitude Group said on Friday that its interim results were expected to show "significant" year-on-year growth.

Altitude said its first-half figures were set to come in ahead of H123 by over 50% on revenues and nearly 40% on adjusted operating profits as it benefited from "strong" growth in its merchanting division and a "continuing solid performance" in its services unit.

The AIM-listed group said this was "very much in line" with expectations and gave it "great confidence" with both the short-term and long-term outlook for the company.

Chief executive Nikki Stella said: "These results are a real testament to the incredible hard work and talent of the team assembled within the group. On behalf of the board, I would like to thank them. We remain highly confident about the future of Altitude and look forward to further updating shareholders with our interim results in November."

As of 1000 BST, Altitude shares were up 5.53% at 40.10p.

Reporting by Iain Gilbert at Sharecast.com