Trakm8 reported that trading in the first five months of the current financial year commencing 1 April 2017 were satisfactory and ahead of the same period last year, and consistent with expectations for the year as a whole.
Executive Chairman John Watkins is expected to make the following statement at the AGM today:
"The benefit from the renewed contract momentum experienced and announced since year end will progressively accrue over the coming months.
"These wins and extensions (in order of award) included:
- Contract extension awarded by Young Marmalade valued at £1.7m
- Contract extension awarded by Direct Line for a further three years
- Initial contract awarded by a roadside assistance technology company (Intelematics)
- Initial three year contract awarded by Mecalac for a minimum 2,000 units over three years
- Contract extension awarded by Iceland Foods until 2024 for an integrated solution
- Contract extension awarded by Shell initially for the US market
- Initial contract awarded by Calor Gas for five years for an integrated solution
"We are confident that our pipeline of opportunities will deliver further new contract wins and extensions over the coming months.
"We remain on track to report improved cash generation this financial year in line with market expectations.
"The Board's outlook for the year of a much improved financial performance is unchanged.
"The group will report its half year results as usual in late November."