Altitude Share Discussion Threads

[northwards] 07/7/2020 08:36

I suspect that 10k trade was a director buy.

[northwards] 07/7/2020 08:33

Finncap brief update:Altitude has reiterated that trading from January to mid-March had been as expected, while the period since has obviously been dominated by COVID-19. The company quickly transitioned to remote working, without detriment to service levels. Restraint on discretionary spend and marketing enabled a focus on gross cash resources and preservation, moving from £2.5m at the end of March and £2.0m at 2 July, with $0.5m Federal help and a further £1m of receivables to unwind. A focus on support and retention has kept AIM member numbers steady at 2,136 (Dec 19: 2,276; June 19: 2,185), and VIP suppliers unchanged at 175; average AIM member revenue (pre COVID) increased to $1m (Sept 19: $0.97m) and aggregate AIM member revenue increased to $2.2bn ($2.1bn). Supplier partners report declines of up to 80% in regular promotional product orders in April and May, recovering to 50% in June. While membership fee revenues persist, we look forward to a recovery in member orders during emergence from lockdown, but timing obviously remains uncertain. Results to March are expected before the end of September, the company reporting quantification challenges relating to accruals, for which reason we withdraw our March FY20 forecasts.

[john09] 07/7/2020 08:32

You are nuts

[robbnw] 07/7/2020 08:30

Now what a surprise that you think that John mate . Having dumped all your stock and having zero skin in the game . In the past they were heavily criticised for being ultra positive , Now they say hardly anything . We have just been through lockdown . The US especially in the Deep South is going through a terrible time , Covid wise still. And all they are saying is they want to wait until Sept to see the true figures . I for one would rather they keep tight lipped . I reckon we will see some of the directors buying while , those that cant wait , can sell and go . Good luck John in your other investments.Ill drop you a line when we are past Covid and Alt are back over 100p which I am sure they will be once Covid is a distant memory

[john09] 07/7/2020 08:19

Sell while you can get 26p

[john09] 07/7/2020 07:59

I know what I make of it

[northwards] 07/7/2020 07:55

On the plus, they still have 2m cash plus 1m in receivables. There will be a question as to how much of that is bank able. I presume this does not include monies due from the ad products sale. Broadly speaking, if receivables hit, and taking account of the govt grant, it looks like the most challenging quarter on record was broadly breakeven. If so, that's quite an achievement. Cash and LiquidityCash at 31 March 2020, was GBP2.5m, and as of 2nd July is GBP2.0m. Current cash does not include approximately GBP1.0m of extended receivables, the deferral of which was attributable to COVID-19. The Company was able to benefit from US government programs, receiving $0.5m in funding under the US Federal Payroll Protection Program. The Company is confident that all conditions for the forgiveness of the funding received under the Program have been met, and that the deferred receivables are collectible. The Company remains debt-free, continues to be cautious in its approach to all discretionary spend and is carefully managing cash whilst adapting marketing and sales plans to meet the changing needs of AIM Members and suppliers.

[thebigshortfella] 07/7/2020 07:48

So what do you peeps make of today’s update?

[northwards] 06/7/2020 08:53

https://32eyrestreet.com/

[thebigshortfella] 06/7/2020 08:33

Sweenoid - 😂 You won’t be adding more before the update?

[sweenoid] 06/7/2020 07:47

Their ‘new’ registered address sounds like a PO Box? Where was the last address?

The 7th floor of a building in Sheffield?!

For a moment I feared a move to the Caymans ;-)

If it’s part of the cost-savings plan then it’s to be welcomed.

I only have a very small position/ punt here, and frankly have no great expectations but will await the next news with interest, well trepidation really
S

[seangwhite] 03/7/2020 16:17

The volume of buying is really nothing out of the ordinary but it maybe a sign of an update for next week.

[northwards] 03/7/2020 15:36

That change of registered address suggests annual results are v close.

[thebigshortfella] 03/7/2020 12:55

I would call you overly optimistic, but perhaps Northwards. Good luck fella!

[northwards] 03/7/2020 12:22

Call my cynical, but suddenly some buying on a Friday. I wonder if we'll get an update next week?

[thebigshortfella] 03/7/2020 11:35

You could hear a pin drop...

[robbnw] 01/7/2020 21:23

Your words Oh no Now we are worried lol

[northwards] 01/7/2020 17:20

Ad products disposal saves £1.9m from overheads - U.K. operation is breakeven aside from plc costs.

[seangwhite] 01/7/2020 16:16

UK unit was loss making so its hard to see what you are getting at.

[tjbird] 01/7/2020 16:12

Without the uk bit to prop up the numbers they will just be plain nasty

[seangwhite] 01/7/2020 16:01

I see the natives of the BB are getting restless. The company really need to get its act together on news and updates as their past history has been patchy to say the least. Lets see what this next one brings as the share price action does not bode well.