Trakm8 Holdings PLC Trading Statement (0479L)
April 23 2015 - 02:01AM
UK Regulatory
TIDMTRAK
RNS Number : 0479L
Trakm8 Holdings PLC
23 April 2015
23 April 2015
TRAKM8 HOLDINGS PLC
("Trakm8" or the "Group")
Year End Trading Update
Trakm8, the AIM-listed telematics and data provider to the
global market place, is pleased to provide a positive update on
trading for its financial year ended 31st March 2015.
Highlights
-- Group revenues up c.95% year on year
-- Annualised recurring revenue up 60% to GBP7.3m
-- Trakm8 orders received up 38% year on year (like for like basis)
-- Trakm8 revenues up 73% year on year (like for like basis)
-- Strong traction in new contract wins announced in recent months
Trading
Trading for the year ended 31 March 2015 has been in line with
the Board's expectations, with strong growth in revenues and
profits compared to the prior year. Revenue for the new financial
year ending 31 March 2016 is now expected to be ahead of previous
management expectations, with profits comfortably ahead of previous
management expectations.
Like for like orders (not including BOX business as this was
owned for just five months of last year) received during the period
were 38% higher than the previous year. Revenues on a like for like
basis were 73% higher than last year.
The result at BOX was positively impacted by the integration of
GBP1.8m manufacturing build of telematics devices for Trakm8. This
followed the introduction of the T10 and the increased capacity at
BOX with a new surface mount pcb line.
When we announced the half year results in December 2014, we
reported a strong pipeline of opportunities under trial. It is
pleasing to note that we have secured a number of these, which have
been announced in recent months. We continue to maintain a strong
stream of new opportunities some of which we would expect to
convert over the coming months.
We achieved the landmark figure of exceeding 100,000 units
reporting to our servers during the year and just over 96,000 units
were built and shipped in the financial year as a whole. As a
result the recurring revenues increased strongly with annualised
March figures 60% up on the previous year at GBP7.3m
The Group has continued to expand its internal resources in most
functions but particularly in design, development and data
analysis. Sales and marketing has been strengthened along with the
customer support team. Manufacturing investment for increased
capacity and quality has been continuing. Net cash at 31 March 2015
stood at GBP0.6m.
Outlook
The outlook for the new financial year continues to be positive.
Recent contract wins and the continuous increase in devices
reporting to our servers means that the Group expects to achieve
another strong trading performance in the new financial year. The
Board now expect revenue for the new financial year ending 31 March
2016 to be ahead of its previous expectations, with profits also
comfortably ahead of previous expectations.
Notice of Results
The Group expects to announce its final results for the year
ended 31 March 2015 in early July 2015.
John Watkins, Executive Chairman of Trakm8 commented:
"Trakm8 has started to deliver on its potential, with excellent
products and solutions, a very strong growth in the installed base,
and a widening of the customer base achieved during the last
financial year. The investment in resources to capitalise on the
opportunities in the M2M and Big Data space is paying off and we
expect to be able to continue the improvement in shareholder
value."
- ends-
For further information please contact:
Trakm8 Holdings plc 01747 858444
John Watkins, Executive Chairman
James Hedges, Finance Director
MHP Communications 020 3128 8100
Reg Hoare / Jade Neal
finnCap 020 7220 0500
Ed Frisby / Christopher Raggett - corporate finance
Jo Weaving - corporate broking
About Trakm8
Trakm8, the M2M telematics company using Big Data analytics to
improve driver behaviour is a leading technology designer,
developer and manufacturer of telematics products and
solutions.
The Group, based in Shaftesbury, Dorset, distributes its
hardware and software through a network of distributors worldwide.
In addition the Group provides vehicle monitoring and tracking
services direct to the B2B market. Trakm8's IP owned products and
services allow vehicles and drivers to be monitored, allowing
organisations to manage deliveries and services, or track stolen
vehicles down to five metres.
Recently Trakm8 has developed the T10 product range, which
includes a self-installed telematics device. The Group's services
also include a driver behaviour management solution that reduces
fuel consumption by 10% or more and reduces the risk of accidents.
This is complemented by a logistics routing and scheduling package,
integrated tachograph data reporting facilities, and the ability to
read vehicle DTCs (Diagnostic Trouble Codes) reducing
serviceability downtime. The Group's customers include the AA, St
Gobain, EON, Direct Line Group, & Young Marmalade.
Trakm8 has been listed on the AIM market of the London Stock
Exchange since 2005.
www.trakm8.com / @Trakm8
This information is provided by RNS
The company news service from the London Stock Exchange
END
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