6 September 2017
Trakm8 Holdings plc
("Trakm8", the "Group" or the "Company")
AGM Statement & Trading Update
Trakm8 Holdings plc, the AIM listed telematics and data supplier to global markets, is today holding its Annual General Meeting. Executive Chairman John Watkins will make the following statement on current trading at the meeting.
"Trakm8 is pleased to report that trading in the first five months of the current financial year commencing 1 April 2017 has been satisfactory and ahead of the same period last year, and is consistent with its expectations for the year as a whole.
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) have 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."
Technology Demonstration Event
Following the AGM, the Company is hosting a Technology Day for analysts and investors. No new material financial information will be disclosed in the presentations.
For further information please contact:
Trakm8 Holdings plc
+44 1747 858444
John Watkins, Executive Chairman
MHP Communications (Financial PR to Trakm8)
+44 20 3128 8100
Reg Hoare / Charlie Barker
finnCap (Nomad & Broker to Trakm8)
+44 20 7220 0500
Ed Frisby / Simon Hicks - corporate finance
Tim Redfern / Richard Chambers - corporate broking
Trakm8 is a UK based technology leader in fleet management and insurance telematics, optimisation and dashboard camera systems. Through IP owned technology, the Group analyses data collected by its installed base of telematics units to fine tune the algorithms that are used to produce its telematics based solutions; these score driver behaviour, monitor vehicle health and continuously improve the security and operational efficiency of both private drivers and company fleets.
The Group's product portfolio includes cameras (including the recently launched integrated telematics camera), self-installed telematics units and technology to eliminate distracted driving due to mobile phones.
Headquartered in Dorset with a manufacturing facility in the West Midlands, the Group supplies, through its dedicated business units Fleet, Optimisation, Insurance and Automotive, many well-known customers in the UK and internationally including the AA, Saint Gobain, EON, Direct Line Group and Young Marmalade.
Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.
www.trakm8.com / @Trakm8
This information is provided by RNS