1st Jul 2015 08:49
LONDON (Alliance News) - Vehicle tracking systems, software and services company Quartix Holdings PLC Wednesday said it has traded in line with expectations in its first half, and consistently with market expectations for its full year.
According to Morningstar, FinnCap expects Quartix to post a pretax profit of GBP5.5 million for the full year, compared to GBP5.0 million in 2014.
"We made good progress in all markets, ending the period with over 7,100 fleet clients and 66,700 vehicles under subscription," said Managing Director Andy Walters in a statement. "Our base in the USA grew from 124 to 470 customers, which is particularly encouraging. Insurance installations also showed strong progress compared to the same period in 2014. We continue to invest in marketing initiatives to drive growth in our core fleet markets, and remain on track to meet profit expectations for 2015."
Quartix plans to announce its interim results July 29.
Shares in Quartix are trading up 4.0% at 189.85 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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