Altitude Group plc (LON:ALT) told investors it is encouraged by the progress being made following the acquisition of the AI Mastermind announced in January and said that financial results for 2018 will be in-line with market expectations.
The AIM-quoted group is due to release its financial results statement on 28 May.
In January, the company announced the acquisition of Advertising Industry Mastermind and at the same time raised £7mln.
READ: Altitude Group acquires Advertising Industry Mastermind
AI Mastermind is described as “the largest promotional products distributor organization member group in the United States”.
In Wednesday’s statement, Altitude said the integration of the AI Mastermind business has gone well and it is continuing to increase membership and generate revenue through enhanced marketing, technology and sales support.
"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,” said Nichole Stella, Altitude chief executive.
She added: “We have made good initial progress and are encouraged that both members and supplier partners are recognising our enhanced, combined service.
“We are more convinced than ever about the potential of our model and of the benefits that will be derived following the acquisition of AI Mastermind.