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Trakm8 Holdings PLC - Birmingham-based telematics and data insight provider - Expects revenue of GBP16.0 million for the year to March 31, in line with previous guidance but 18% less than the prior year. Despite cost reduction efforts, an adjusted loss for the year is expected to be in line with guidance at around GBP300,000, widening from GBP200,000 in 2020.
Trakm8 says demand in the fleet sector is "already improving" and expects revenues to "revert to pre-Covid levels, which with recently lower costs should lead to a profitable business for the year".
Current stock price: 16.10 pence, down 8.0% on Wednesday
Year-to-date change: down 2.4%
By Will Paige; willpaige@alliancenews.com
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