Trakm8 Holdings PLC AGM Statement & Trading Update (4700A)
12 September 2018 - 4:00PM
UK Regulatory
TIDMTRAK
RNS Number : 4700A
Trakm8 Holdings PLC
12 September 2018
12 September 2018
Trakm8 Holdings plc
('Trakm8', the 'Group' or the 'Company')
AGM Statement & Trading Update
Trakm8, a leading telematics and data supplier to global
markets, is today holding its Annual General Meeting at 10:30 a.m.
at the offices of Buchanan, 107 Cheapside, London EC2V 6DN.
Executive Chairman John Watkins will make the following statement
on current trading at the meeting.
"The Board is pleased to report that the outlook for the year
ending 31 March 2019 is in line with market expectations, with an
improved financial performance driven by continued growth in the
telematics business more than offsetting the eliminated CEM
activities.
Trakm8 reports that trading in the first five months of the
current financial year commencing 1 April 2018 has been, as
previously advised, behind that of the same period last year. The
decline is largely due to both the elimination of GBP1.6m CEM work
undertaken during this period last year and the working down of the
launch stocks by one of our significant customers. Fleet
connections have continued to increase satisfactorily, however at
one of our significant insurance customers, telematics policy
cancellations have modestly exceeded new policy sales.
The second half of the year will benefit from resumption of
volume shipments to the significant customer referenced above and
increased momentum in the fleet management market. The Directors
are also confident that new contracts to be awarded, particularly
in the insurance space, will drive additional revenues in the
second half of the year.
The Group will report its half year results as usual in early
December."
Investors Event
Following the AGM, from 11.00am to 13.00pm at the offices of
Buchanan, the Company will hold an event for analysts and investors
at which private investors are welcome to attend. No new material
financial information will be disclosed in the presentations. A
videocast of the meeting will subsequently be available on the
Group's IR website.
- 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 / Alex Penney www.arden-partners.com
Media enquiries:
Buchanan
Chris Lane / Tilly Abraham Tel: +44 (0) 20 7466 5000
Trakm8@buchanan.uk.com www.buchanan.uk.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 250,000
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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