LONDON (Thomson Financial) - Eagle Eye Telematics Plc. posted a wider
full-year pretax profit on higher costs and said it expects continued progress
in the development of the commercial motor insurance and vehicle leasing sectors
over the next 12 months.
For the year ended Nov. 30, 2007, the company posted a pretax loss of 1.29
million pounds against a loss of 869,000 pounds the previous year. Turnover rose
to 1.29 million pounds from 1.06 million.
Since the year end, the group has renegotiated the terms of its 2.4 million
pound loan, previously repayable in full on July 31. Eagle Eye said the new loan
is repayable June 30, 2009.
It also said that in order to strengthen the group balance sheet, the board
is currently in negotiations to convert into equity a substantial part of loans
from certain directors and significant shareholders.
tf.TFN-Europe_newsdesk@thomsonreuters.com
tsm/kf1
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|