Altitude Group plc, the holding company of Trade Only, have released their 6 month trading figures. The company states that: The primary focus of the Group continues to be on the expansion of the Software as a Service (“SaaS”) offerings, under the Trade Only umbrella both within the UK and increasingly within North America.

Positive highlights show the Trade Only National Show had the capacity sold out in 2013 with revenue increasing by 5%, and the 2014 show is already 90% full. Group growth overall was 2%. Technologo has also reported growth.

The report refers to a legal action, to which Trade Only have decided to agree to a settlement. The accounts shows a non-recurring administrative expense at ?457,000 which includes this expense.

Martin Varley, Global Commercial Director stated in the report: Recurring revenue generation has been slower than expected due to our decision to divert resources on to the delivery of large client opportunities.  Against a background of substantial investment in development, this is expected to result in the outcome for the full year being materially short of current market expectations. I remain confident of the structural opportunities within the SaaS market and it will be the focus on our technology platforms which will position the Company to capitalise on the considerable potential.  

The full release is available here: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11721637