Trakm8 Holdings PLC - Birmingham-based telematics and data insight provider - For six months ended September 30, posts pretax loss of GBP845,000, narrowing from GBP2.2 million loss a year prior. This is despite revenue falling 19% year-on-year to GBP7.3 million from GBP8.9 million. Cost of sales were reduced to GBP2.8 million from GBP4.2 million, meaning gross profit was down just slightly at GBP4.5 million from GBP4.7 million. What's more, total administrative expenses for the half year were cut by 24% to GBP5.2 million from GBP6.9 million.
Notes 12% increase in orders during October but warns of softening in market and uncertainty due to the introduction of a second lockdown. Trakm8 expects revenue in the second half to be significantly higher than the first half despite any negative impact of Covid-19.
As at September-end, Trakm8 had cash of GBP1.5 million, up from GBP692,000 a year prior.
Current stock price: 15.22 pence
Year-to-date change: down 34%
By Ife Taiwo; ifetaiwo@alliancenews.com
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Trakm8 Hldgs (TRAK)