Altitude Group (LON:ALT) was under the cosh on Tuesday as the technology and information specialist said its full year results will be “marginally” ahead of expectations, subject to an audit.
In the year ended 31 December 2016, the company said profits were supported by annualised cost savings of about £1.8m on the back of a significant restructuring.
The group’s results were also boosted by the launch of its Click2Ship websites in the fourth quarter, with just over 22,000 sites created.
The sites provide an e-commerce platform to personalised product resellers, including a product database, product visualisation, cart, order management and production-ready artwork functionality.
The branding for the Click2Ship product has been finalised with the name Channl.com.
Altitude receives a percentage of supplier revenue obtained through the online trading platform.
“The board believes this compelling offer is potentially structurally changing in the highly fragmented personalised and promotional product, signage and printed wearables industries within the USA, a market estimated to be worth more than $25bn per annum,” the group said in a statement.
Altitude also announced it has started a digital email marketing campaign to support 22,000 resellers in encouraging their customers to migrate a proportion of their business to the company’s e-commerce platform.
Shares fell 14.53% to 76.50p in morning trade.