Trafficmaster profits in line

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Date: Tuesday 22 Jul 2008

LONDON (ShareCast) - Trafficmaster should continue to grow profitably this financial year in line with forecasts, said the satnav group today as it announced the purchase of Tri-Mex Group for up to £4.75m.

Revenues have increased in both the US and the UK during the first six months of the year and profits are in line with the firm’s expectations.

Business Services has performed well in the first half, said the group, while the consumer services business has also made progress in partner programmes and traffic.

Tri-Mex’s Eurowatch service is a pan-European service for stolen vehicle and cargo tracking covering 38 countries through an extensive network of national service providers.

They provide tracking services for the likes of GE Asset Intelligence, Aston Martin Lagonda, Jaguar and Land Rover.

“Overall we believe the business will continue to grow profitably in the current financial year, and perform in line with our expectations, supported by growing demand for Fleet Director's proven fuel saving capabilities and the progress of our current partner programmes,” said Trafficmaster.

Figures for the six months ended 30 June are due on 29 August.

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