4th Dec 2018 10:57
LONDON (Alliance News) - Quartix Holdings PLC on Tuesday said it anticipates its earnings to exceed market expectations in 2018.
The stock was up 13% on Tuesday at 270.00 pence a share.
The vehicle tracking systems supplier said it expects its adjusted earnings before interest, taxation, depreciation, and amortization for the year to the end of December to exceed market expectations by between 10% and 15%. Quartix noted, however, that the estimate depends on trading results in December.
Quartix believes that market Ebitda expectations before the announcement stood at GBP7.5 million. This means, that the company anticipates annual Ebitda in a range of GBP8.3 million to GBP8.6 million.
In 2017, Quartix reported adjusted Ebitda of GBP7.2 million.
The company said it continued to make a strong progress in its core fleet business in the US and France.
For the first half of 2018, Quartix reported a slowdown in its UK subscription base. On Tuesday, the company noted that since then it experienced an improvement in its UK unit.
Quartix said it will provide post-year trading update in mid-January.
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