4th Sep 2014 08:19
LONDON (Alliance News) - Telematics and data supplier Trakm8 Holdings PLC Thursday said trading for the new financial year has started well, with the value of new orders up year-on-year, and said it is confident it will meet expectations for the full year.
The company said trading in the four months since April 1 has started positively, with a full contribution from BOX Telematics and higher levels of sales for Trakm8 contributing to higher revenues and profitability. In a statement, Trakm8 said it is on course to meet expectations for the full year, based on the positive performance so far.
The group said the strong organic growth reported last year has continued, saying the value of new orders booked in the first four months is up 33% year-on-year on a like-for-like basis. It now has 75,000 units reporting to its servers, a rise of 17,000 in the new financial year.
In the first four months, the company has secured contract wins with insurer Direct Line Group PLC, UK logistics firm CM Downton Ltd and Japanese manufacturer Kubota Corp.
In July, Trakm8 walked away from a possible takeover talks with Belgravium Technologies PLC, news which had sent it shares higher and Belgravium's lower when the termination of the deal was announced.
Trakm8 shares were up 5.3% to 77.90 pence in early trade Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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