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TrakM8 loses way as sales slow

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    Date: Wednesday 27 Aug 2008

    LONDON (ShareCast) - Fleet management software group Trakm8 slumped into a loss last year as sales slowed and a decline in the euro made orders harder to get.

    Losses jumped to £958,000 in the year to March compared with a profit of £90,000. Revenue fell to £4.66m from £6.37m.

    Trakm8 a sharp decline in the euro/pound exchange rate in the second half of the year resulted in an increase in cost for its hardware platforms. The dollar weakness had also hit its competitiveness.

    "The headline operating result set out in this report, whilst disappointing, reflects the challenges we have faced over the last year," chief executive Cary Knapton said.

    Going forward Knapton added "The launch of the T6 significantly improves our hardware product capability and the group is well placed to capitalise on the opportunities presenting themselves in the market place.

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