Trakm8 Holdings PLC Contract Award and Trading Update (2595Q)
February 25 2021 - 1:00AM
UK Regulatory
TIDMTRAK
RNS Number : 2595Q
Trakm8 Holdings PLC
25 February 2021
25 February 2021
Trakm8 Holdings plc
('Trakm8' or the 'Group')
Contract Award and Trading Update
Trakm8 Holdings plc (AIM:TRAK), a leading telematics and data
supplier to global markets, is pleased to announce that it has been
awarded a long term contract to deploy over a 1,000 RH600
integrated telematics and cameras systems to The Parts Alliance
Group.
Trakm8 will supply the full fleet management and driver
behaviour solutions based on Insight, the Group's leading analytics
and data platform.
Outlook
Revenue in the second half will be approximately 15% up on the
first half, despite the second and third Covid-19 lock-downs which
have had a significant adverse effect on our Insurance customers as
a result of the temporary suspension of driving tests. Full year
revenue is expected to be approximately 20% lower than FY20, with
Covid-19 compromising what would otherwise have been a year of
growth. This will result in a modest adjusted loss before tax
broadly similar to last year.
Whilst disappointed that Covid-19 has pushed back the return to
material growth by 12 months, the Directors are confident that the
Group is well positioned to return to growth driven by its
expanding Insurance customer base and continually improving Fleet
sales team performance.
- 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, Head of Corporate www.arden-partners.com
Finance
Simon Johnson, Head of Sales
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 253,000
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, LexisNexis and
Ingenie.
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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