LONDON (Alliance News) - Telematics company Trakm8 Holdings PLC on Tuesday said revenue for the year to end of March grew substantially and it will pay a maiden final dividend.
The company said revenue for the financial year was up 44% year-on-year, helped by 28% growth in like-for-like sales and 50% growth in its recurring revenue stream.
Orders grew 29% on a like-for-like basis in the year as the company won substantial deals with retailer Iceland and roadside assistance group AA PLC.
Trakm8 said the good performance will mean it will declare its maiden dividend payout of 2.00 pence per share.
The company said the outlook for the current financial year is encouraging, with good revenue visibility and with trading underpinned by its recent contract win with telecommunications group BT Group PLC.
Trakm8 will publish its final results on July 4.
Trakm8 shares were up 6.6% to 290.35 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Trakm8 Hldgs (TRAK)