StockMarketWire.com - Vehicle tracking-system supplier Quartix said it expected to report annual revenue, profit and free cash flow slightly ahead of current market forecasts.

Revenue and free cash flow for the year through December were seen at £25.6m and £5.9m, respectively, the company said. Its current estimate for adjusted Ebtida was £7.0m.

Quartix said it continued to transition away from lower-margin insurance business, leading to total revenues for the year being broadly flat.

Revenue in the fleet business were expected to have grown by around 10%, accounting for about 80% of group revenue.

'The change in balance from insurance to fleet is expected to continue in 2020,' Quartix said.



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