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Quartix's core business grows 7% despite pandemic impact

By BFN News | 09:43 AM | Thursday 22 October, 2020


Vehicle tracking systems provider Quartix Holdings reported 7% revenue growth from its core business for the first nine months of 2020, compared to the same period last year. Despite the impact of COVID-19 on new subscriptions, the company said revenue for its core fleet business was up. This accounted for 84% of Quartix's total revenue. Adjusted earnings before interest, taxes, depreciation, and amortisation for the full year was expected to be approximately 15% ahead of current consensus market forecasts, although this was dependent on the impact of the pandemic for the remainder of the year. The company's subscription base grew by 11% in the first nine months of the year, boosted by France and the US. At 9:43am: (LON:QTX) Quartix Holdings Plc share price was +16p at 335p Story provided by StockMarketWire.com

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