Trakm8 Holdings PLC AGM Statement & Trading Update (7532N)
26 Settembre 2019 - 8:29AM
UK Regulatory
TIDMTRAK
RNS Number : 7532N
Trakm8 Holdings PLC
26 September 2019
26 September 2019
Trakm8 Holdings plc
("Trakm8", the "Group" or the "Company")
AGM Statement & Trading Update
Trakm8 Holdings plc (AIM: TRAK), the global telematics and data
insight provider, is today holding its Annual General Meeting.
Executive Chairman John Watkins will make the following statement
on current trading at the meeting.
"The Board is pleased to report that the outlook is for a year
of improved financial performance in line with market
expectations.
Half Year revenues are expected to be modestly ahead of last
year, direct and indirect costs significantly lower. The Half Year
adjusted loss therefore should be considerably lower than last
year. This is despite only one of our four significant new
insurance customers starting to deploy devices during the period.
Overall, connections are largely unchanged since year end with a
modest increase in Fleet connections and a modest reduction in
Insurance connections. Last year we received almost GBP1m of
R&D Tax Claim refund in August. Assuming that we receive this
year's claim in the next few days we expect that Net debt excluding
leases at the end of the Half Year will be in the range GBP5.6m to
GBP5.8m (31.3.19: GBP5.6m), which is a very significant improvement
on the cash outflow of the corresponding period of the previous
year. Even if the R&D tax reclaim is not received until
October, the cash outflow will be significantly reduced on the
corresponding period of the previous year.
The second half of the year will benefit from commencement of
shipments to our new volume insurance customers, resumption of
shipments to our automotive customers along with the improved sales
performance in the Fleet market. Direct and indirect costs are
expected to continue to reduce, delivering incremental savings over
and above the GBP2m communicated last financial year.
The Group will report its half year results in early
December."
- Ends -
For further information:
Trakm8 Holdings plc
John Watkins, Executive Chairman Tel: +44 (0) 167 543 4200
Jon Furber, Finance Director www.trakm8.com
Arden Partners plc (Nominated Adviser Tel: +44 (0) 20 7614 5900
& Broker)
Paul Shackleton www.arden-partners.com
About Trakm8
Trakm8 is a UK based technology leader in fleet management,
insurance telematics, connected car, and optimisation. Through IP
owned technology, the Group analyses data collected by its
installed base of telematics units to fine tune the algorithms that
are used to produce its' solutions; these monitor driver behaviour,
identify crash events and monitor vehicle health to provide
actionable insights to continuously improve the security and
operational efficiency of both company fleets and private
drivers.
The Group's product portfolio includes the latest data and
reporting portal (Trakm8 Insight), integrated telematics/cameras,
self-installed telematics units and one of the widest ranges of
installed telematics devices. Trakm8 has over 240,000
connections.
Headquartered in Coleshill near Birmingham alongside its
manufacturing facility, the Group supplies to the Fleet,
Optimisation, Insurance and Automotive sectors to many well-known
customers in the UK and internationally including the AA, Saint
Gobain, EON, Iceland Foods, Direct Line Group and Young
Marmalade.
Trakm8 has been listed on the AIM market of the London Stock
Exchange since 2005.
www.trakm8.com / @Trakm8
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END
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