Quartix Technologies PLC - Newtown, Wales-based vehicle tracking system provider - Reports that the strong growth in new installations seen in January and February have continued into March. For the first quarter, the total of units installed is set to reflect an increase of 25% compared to the same period in 2021.

Annualised recurring revenue increase is significantly ahead of the growth rate in the first quarter of 2021. As a result, trading for the first three months is consistent with meeting market expectations for 2022.

Consensus market expectations for 2022 has revenue of £27.4 million and adjusted earnings before interest, tax, depreciation and amortisation of £5.8 million.

Current stock price: 380.70 pence

12-month change: down 31%

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