StockMarketWire.com - Telematics and data supplier Trakm8 Holdings said its annual revenue had fallen to meet the bottom end of its guidance range, driving an expected loss for the year.

Revenue for the year through March had slid 35% to £19.2m, which represented a fall of 28% on a like-for-like basis.

'The group achieved market expectations, set at the time of the half year results announcement, of adjusted loss before tax of £1.4m for the period,' the company said.

'Whilst overall the full year was significantly loss making the group achieved a positive adjusted profit for the second half of the year,' the company said.

Trackm8 said it was encouraging that the value of new contracts secured during the final three months of the year were up 67% compared to the average of the previous three quarters.

'The board is confident in the group's future prospects and an update on trading for the current financial year commencing 1 April 2019 will be provided in conjunction with the 2018/19 final results,' it said.



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