Telematics and data insight firm Trakm8 announced a substantial drop in revenue and posted a loss for the year ended 31 March 2019. Revenue was down 35% to £19.1m and the company revealed a pre-tax loss of £3.6m compared with a profit of £0.5m a year earlier as it experienced sales related challenges and contract delays. Net debt increased 70% to £5.6m. The company has announced £2m of cost savings The company commented: 'Given the disappointment of last year, we are being prudent with our outlook, with market expectations of a relatively modest recovery (low double digit growth) in revenues with small adjusted profitability.'
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