(Alliance News) - Trakm8 Holdings PLC on Thursday said trading for financial 2020 remains in line with previous guidance.
The vehicle tracking company expects increased revenue and "modest" adjusted pretax profit for the year to the end of March. For financial 2019, it posted an adjusted pretax loss of GBP1.5 million and revenue of GBP19.1 million.
For the first half of financial 2020, Trakm8's pretax loss narrowed year-on-year to GBP2.2 million from GBP2.9 million. Revenue climbed by 0.3% to GBP8.9 million from GBP8.8 million.
Separately, Trakm8 said it has hired Peter Mansfield as group sales and marketing director. Peter joins the company following a successful sales leadership career in financial data services and will be responsible for Trakm8's sales and marketing strategy and resources, the company added.
The stock was trading 7.1% lower at 13.00 pence each on Thursday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Trakm8 Hldgs (TRAK)