Agreed blopblup. Things are already a step ahead in America, where trial was successful. A company called Progressive (PGR on NYSE) set up the systems across the pond.
However in the UK and Europe, IBM are currently a major player with the Norwich Union trial and I can realistically see them snapping up Cybit in 2004 before they get too big.
Progressions with the Norwich Union deal are only a small part of the picture though after a fantastic year in 2003, with many new contracts being won and announced. Also important to take into account new (stealth!) contracts, such as the Aberdeenshire Council refuse collection telematics deal with Cybit, which was not announced. Profits from these ventures will begin to kick in with this year's results. Not to mention the potential of 100,000+ fleet vehicles with the Lex contract. Re-seller agreements with reputable companies like Signature will ensure that further contracts are won in 2004. Also not forgetting the appointment of an advisor to take CYH into Europe!
Very difficult to feel anything other than extremely positive about the prospects of this company, short, medium and longer term!
My Target price for end of March 5.5p (mid). If IBM rumours kick in would put them anywhere between 8p-15p with inflated buying.
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