Source - SMW
Trakm8's FY pretax profit has slid 77% to £0.7m, from a profit of £3.0m, and canned its dividend, but says it is confident of a much-improved performance in the new FY.

Revenue improved to £26.8m, up 4% from £25.7m. Dividend was nil, from 2p a share.

"This has been a year of investment and preparation for growth," said executive chair John Watkins. 

"The investment resulted in a significant increase in costs whilst the contracts expected to be secured were won too late in the year to benefit revenues. 

"This resulted in disappointing results for the year when compared to our original expectations.  However, this investment in new products provides a strong pipeline of opportunities for the future."

Watkins said Trakm8 had recently announced new contracts with a roadside assistance technology company, and Mecalac, and renewed and extended contracts with Marmalade, Iceland Foods, Shell and Direct Line Group. 

"These important contracts together with our strong pipeline of further opportunities provide additional visibility in our outlook for this year," he said.

"Overall, we anticipate reaping the rewards of our investments as evidenced by our renewed contract momentum.  As a result we are confident of achieving a much improved performance in the new financial year consistent with market expectations."