29th Jul 2015 09:25
LONDON (Alliance News) - Vehicle-tracking systems company Quartix Holdings PLC on Wednesday said its pretax profit was lower in the first half of 2015, despite higher revenue, mostly due to a one-off gain it made a year earlier.
Quartix said its pretax profit in the first half was down to GBP2.7 million from GBP3.1 million, primarily thanks to a GBP635,000 one-off gain the company made in the year-earlier half which did not repeat. Quartix's operating profit, stripping out the exceptional items, was up to GBP2.7 million from GBP2.5 million.
Revenue for the group increased to GBP9.2 million from GBP7.4 million in the half, driven by 17% growth in its fleet revenue and a 43% rise in insurance revenue. New fleet installations rose 44% in the half, and Quartix's fleet subscription base increased by 12%, which helped its active customer base to rise by 12% in the half. Insurance installation were up 64% in the half.
Quartix will pay an interim dividend of 2 pence per share, its first interim payout since listing in London in November.
Quartix said it has made a strong start to the year and remains confident on its full-year outlook.
Shares in Quartix were down 7.2% to 216.6111 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Quartix Tech