6th Jul 2015 08:02
LONDON (Alliance News) - Telematics and data provider Trakm8 Holdings PLC on Monday said its 2015 results came in ahead of its expectations, with pretax profit more than quadrupling on the back of a near-doubling its revenue, as the company said it now expects to beat market forecasts for its current financial year.
Trakm8 said its pretax profit for the year to the end of March was GBP1.7 million, up from GBP0.4 million a year earlier, as revenue rose to GBP17.9 million from GBP9.2 million, a 95% rise. Recurring revenue for the company increased by 62% in the year to an annualised GBP7.5 million, up from GBP4.6 million, while like-for-like orders rose by 38%.
The company said it secured major contracts in the year with Saint-Gobain, the French building materials company, and with Marmalade, the young person-focused insurer. It added it has a robust order pipeline in place for the coming year and strong sales opportunities.
Revenue in its current financial year to date is higher year-on-year, and Trakm8 said it expects its full-year results to "modestly" outpace market forecasts.
"I am pleased to report on another excellent year for Trakm8 with our results being ahead of expectations. Our strategy of increasing the numbers of units reporting to our servers is proving very successful. Strong growth in installed units and the consequent service revenues has been at the core of significantly improved financial results," said Executive Chairman John Watkins.
Shares in Trakm8 were down 7.3% to 162.62 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Trakm8 Hldgs