Updates

Altitude - Latest traction data showing real jump off in revenue

December 2018

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

I found chairman Peter Hallett in good cheer when I met him shortly after a November update. 70 suppliers (including three “big dog” apparel firms) are now hooked up to the system and the number of ordering AI Mastermind (AIM) members has grown to 240, of which 75% are placing repeat orders. Boiling down the various stats released, annualised run rate of sales processed is up to US$40m on which Altitude is earning a blended 2.4% gross transaction revenue (GTR). The US now has 14 salespeople, which is planned to rise to 23. It usually takes six “touches” (emails, letters, meets) from Altitude to get an AIM member to begin using the system. Altitude needs US$150m to break even but given it has US$40m on 240 members ...

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