Altitude delivers 'another strong year' in FY24

(Sharecast News) - Technology and information business Altitude Group said on Wednesday that it has experienced "another strong year of trading" as it delivered "a transformative entrance" into the Collegiate market. As a result, Altitude expects to at least meet consensus expectations for the full financial year ended 31 March, with revenue seen at no less than £26.1m and adjusted underlying expected to be a minimum of £2.2m.

Altitude said its results showcase the last two years of "accelerated growth", with both revenue and adjusted EBITDA growing by at least 100% over that period.

The AIM-listed group also said it was continuing to see "strong growth" across its verticals and highlighted that given the strategic work it has done over recent years, it was now in a strong position to outperform market conditions.

Chief executive Nichole Stella said: "The financial year to 31 March 2024 was yet another year of great momentum, scale and growth. The momentum that has been across all areas of the business for over three years is continuing into the 2025 financial year as evidenced by the contracts being won by the Merchanting vertical. With the fast growth that we have shown in recent years it is vital that the systems, the teams and the structure are in place to allow such exponential growth to take root, succeed and expand. We have proven that we have those foundations, strategy and people in place, which gives the board great confidence in our ability to continue to execute on behalf of our shareholders."

As of 1540 BST, Altitude shares were up 16.19% at 36.60p.

Reporting by Iain Gilbert at Sharecast.com