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LONDON (Alliance News) - Telematics and data provider Trakm8 Holdings PLC Thursday said it expects its revenue for the recently-ended financial year to nearly double and said its annualised recurring revenue also surged higher, and it also now expects its results for the current financial year to be ahead of its expectations.
Trakm8 said it expects group revenue to be up around 95% year-on-year in the financial year that ended on March 31, with annualised recurring revenue up by 60% to GBP7.3 million. Orders received rose 38% year-on-year on a like-for-like basis, with like-for-like revenue up 73%.
The group said trading for the year was in line with expectations and it now expects revenue for the current financial year to the end of March 2016 to be ahead of its previous forecasts, with profits also comfortably ahead of its prior estimates.
Trakm8 said a number of the deals it reported in its pipeline in its half-year results announcement in December have now been secured and it expects its pipeline to remain robust in the coming year.
Shares in Trakm8 were up 17% to 113.00 pence in early trade, one of the best performers in the AIM All-Share index.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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