Altitude trades in line, encouraged by US acquisition

10th Apr 2019 09:07

(Sharecast News) - Promotional products software provider Altitude Group traded in line with expectations during its last trading year, with trading also getting a boost in the new year thanks to its acquisition of AI Mastermind.Altitude told investors on Wednesday that it was encouraged with the progress made since its acquisition of AI Mastermind, the largest promotional products distributor in the US, with integration going well.The AIM-listed outfit said its team was focussed on driving revenue from, and delivering value to, both sides of the supply chain, increasing member order volumes and value to its supply partners.The unit also successfully increased membership and generated revenues through enhanced marketing, technology and sales support with a particular focus on the supply chain.Chief executive Nichole Stella said: "The company made substantial progress in 2018 and has developed further in the short period following the acquisition of AI Mastermind and its subsequent rapid, successful integration."We have made good initial progress and are encouraged that both members and supplier partners are recognising our enhanced, combined service."As of 0910 BST, Altitude shares had descended 1.93% to 101p.