Trading Update

RNS Number : 8619F

Trakm8 Holdings PLC

04 May 2011

 



4 May 2011

TRAKM8 HOLDINGS PLC

("Trakm8" or the "Group")

Trading Update

Trakm8, the AIM-listed designer and developer of GPRS based hardware and software for the vehicle placement and security market, is pleased to provide an update on trading for the year ended 31 March 2011.

The Board announces that the Company has consolidated its return to profitability by achieving growth in both revenue and profits during the year.  This performance is particularly pleasing in the light of difficult market conditions and economic uncertainty.  In addition, the Group has continued to generate cash over the year further strengthening the Balance sheet.

The acquisition of the telematics assets from Vincotech was successfully completed in December and the Board is optimistic about the opportunities for expanding Trakm8's hardware range and in particular from growth overseas.  As a result, the Group has continued to invest in its engineering and sales and marketing resources.

The Company expects to announce its preliminary results for the year ended 31 March 2011 in early July 2011.

John Watkins, CEO of Trakm8, commented:

"We are very pleased to report a continued improvement in the Company's performance and the Board is confident in the outlook for the new financial year."

For further information please contact:

Trakm8 Holdings plc John Watkins, Chief Executive Officer James Hedges, Finance Director	01747 858444
Arbuthnot Securities Limited Hugh Field	020 7012 2000
Tavistock Communications Simon Hudson	020 7920 3150

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