(Alliance News) - Trakm8 Holdings PLC on Thursday said it has been awarded a telematics and optimisation contract extension with Iceland Foods Ltd, running until March 2027, after it was awarded a similar contract by a subsidiary of J Sainsbury PLC on Wednesday.
Shares in Trakm8 were up 14% to 16.55 pence each in London on Thursday afternoon.
The Birmingham, England-based telematics and data insight provider said it would provide full optimisation and integrated camera/telematics solutions to Iceland.
It said the frozen food supermarket chain will move onto the Trakm8 Insight platform and gaining access to Trakm8's other integrated services. These include connected care, crash notification, and reconstruction and vehicle checks.
Trakm8 claimed that "a wide number of customer specific enhancements" have been developed over the past year to "significantly improve" Iceland's operational efficiency.
"As 'Route Monkey', Trakm8 has been contracted with Iceland since July 2013. This contract was extended in February 2016 and subsequently in August 2017," said Trakm8 Executive Chair John Watkins.
"This recent contract extension reflects the hard work being done by both Iceland and Trakm8 to build a market leading home delivery solution. It is an important part of our current and future years' fleet revenues and part of current market expectations."
On Wednesday, Trakm8 said it was awarded a contract extension with JS Information Services Ltd, a subsidiary of Sainsbury's.
The original contract award was announced on July 3 as being with "a major UK food retailer", with the contract now extending to December 31, 2024.
Trakm8 said it provides it provides slot booking and delivery scheduling/route optimisation algorithm services via its application programming interface into Sainsbury's integrated home delivery solution.
There is an option for Sainsbury's to extend for one further year to December 31, 2025, Trakm8 said.
Also on Wednesday, Trakm8 said it won a new 3-year contract with Howden Driving Data Ltd. Under the agreement, Trakm8 will provide devices and data to Howden. It said the contract has no guaranteed and/or minimum value.
By Greg Rosenvinge, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Trakm8 Hldgs (TRAK)
Sainsbury's (SBRY)