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bit like a scrapage scheme
Your absolutely right but this is what I'm led to believe and its apparnetly quite common for Trak to do this ?
I agree with the commentary - it actually doesn't seem as bad as I first thought. I'm also not sure I buy the buy back of old tech thesis. It makes absolutely no sense to buy back 4/5 year old tech whatsoever.
Re the CES upgrade. Four years is a long time for cameras so, even if the buy back was true, I doubt they have much value (and CES could redeploy them). If I understand it correctly, then the DC2 (great name, and no I am no related) does not connect to the servers. The upshot of this is recurring revenue.
No mention of HSBC, probably because in their eyes it's a non-issue. However, by saying nothing, they've arguably missed an opportunity to include in the RNS something else of interest to investors.
The thread title is misleading and has led to negative comments. The RNS didn't say "New Client", it said "Contract Award", which it is. It may well be with an existing client, but that's very positive: an existing client has chosen to stay with Trak and not defect to a competitor.
All in all, I think it's a reasonably reassuring update: Trak lives to fight another day (or year!).
We'd all like more detail, but they are limited in what they can/should divulge. Let's hope we hear of more contract awards - and PDMR buying - in the near future.
is it me or price going up?????
no update on connection numbers
so guessing stuck at the 250k mark
https://www.cesuk.com/news/3-5-million-investment-in-gsf-van-fleet-gets-underway/
Or a combination.
Both aims can of course be achieved by the same action.
Maybe beacuse it wasn't a great deal.....if you go back 4-5 years ago when the share price was £2+ Trak always mentioned the monitory value of contracts but stopped doing this as the share price slumped. Only two reasons I can see for doing this -
1) They dont want to give commercially sensitive information to competitors anymore
2) Recent deals aren't as lucrative as they would like the market to think
Given the last few years trading I'd think its most likely the latter.
Loose tongues....most of which seem to reside over on another forum but I have confirmed myself CES were already an existing Road hawk customer so I have no reason to doubt other aspects of the deal. Its does beg the qustion as to why Trak are claiming its a new customer contract win as this is clearly misleading .
I can see why Blondeamon got so frustrated. I do understand that covid has been an issue (we are lucky that it was not worse for Trakm8) but their updates are not great. Yes, we are down but they could have mentioned (as others state) the revolving credit deal. 1,000 RH600 does sound good but what happened to giving us an indication of how good.
great news on the contract
prob worth £250k ish up front
then 50k plus pa.
no update on the hbsc od which i wanted to see
400k backlog of driving tests starting on the 12th april
interested day ahead
Thanks for the info.
How do we know they purchase back the old tech?
Apologies meant CES UK not ECP
Smoke and Mirrors as usual with Trak claiming an existing customer is a New Client. ECP have been a long standing Roadhawk DC2 customer for many years (circa 1000 vehicles) and this is simply an uypgrade with Trak purchasing back all existing hardware and offsetting it against new. Not as lucrative a deal as one might think.
https://www.londonstockexchange.com/news-article/TRAK/contract-award-and-trading-update/14877845
New client win with over a 1,000 RH600 integrated telematics and cameras systems to The Parts Alliance Group. Modest loss for the year (similar to last year). Confident that the growth expected before lockdowns will be delivered next year. Not bad result imo. Recovery still in tact.