Trakm8 Holdings PLC Trakm8 achieves service & manufacturing milestones

TIDMTRAK

Trakm8 Holdings PLC

13 March 2015

 
13 March 2015 
 

TRAKM8 HOLDINGS PLC

("Trakm8" or the "Group")

Trakm8 achieves milestones in service and manufacturing capabilities

Trakm8, the AIM-listedtelematics and data provider to the global market place,is pleased to announce it reached over 100,000 units reporting to its servers for the first time in the Group's history, since formation in 2001.

Reaching this service milestone is an important step for the Group as it builds its network of customers across the UK and internationally. During this financial year Trakm8 is anticipated to manufacture and ship over 95,000 units, another record achievement for the Group, which will be facilitated via its West Midlands factory, BOX Telematics ("BOX") acquired 18 months ago.

In response to this landmark achievement and rapidly increasing demand from insurance, fleet management and integrator customers, Trakm8 has made a circa GBP300,000 investmentto extend the Group's existing facilities at BOX. The investment into a new surface mount assembly line, which will be installed in the next few weeks, will provide the Group with a solid base from which it can service the significant increase in volumes expected during the course of the next year and beyond.

John Watkins, Executive Chairman of Trakm8 comments:

"This marks a significant milestone in Trakm8's history and reflects the growing demand from our fleet, insurance and integrator customers. Furthermore, this investment represents the next stage of our development of the BOX manufacturing facilities in order to meet our customers' expectations for efficient delivery of high quality telematics products.

"Trakm8 has been focused on increasing the number of units reporting to the servers as part of its strategy to increase service revenues, and I am pleased to see the Group is building on this solid financial platform."

-ends-

For further information please contact:

 
 Trakm8 Holdings plc                 01747 858444 
 John Watkins, Executive Chairman 
 James Hedges, Finance Director 
 MHP Communications                  020 3128 8100 
 Reg Hoare / Vicky Watkins 
 
 finnCap                             020 7220 0500 
 Ed Frisby / Christopher Raggett - corporate 
  finance 
  Joanna Weaving - corporate broking 
 

About Trakm8

Trakm8, the M2M telematics company using Big Data analytics to improve driver behaviour is a leading technology designer, developer and manufacturer of telematics products and solutions.

The Group, based in Shaftesbury, Dorset, distributes its hardware and software through a network of distributors worldwide. In addition the Group provides vehicle monitoring and tracking services direct to the B2B market. Trakm8's IP owned products and services allow vehicles and drivers to be monitored, allowing organisations to manage deliveries and services, or track stolen vehicles down to five metres.

Recently Trakm8 have developed the T10 product range, which includes a self-installed telematics device. The Group's services also include driver behaviour management solutions that can reduce fuel consumption by 10% or more, reduce risk of accidents, logistics routing & scheduling packages, and tachograph data reporting. The Group's customers include Direct Line Group, Eon, the AA, Fujitsu and Kubota.

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.

This information is provided by RNS

The company news service from the London Stock Exchange

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