6th September 2012
TRAKM8 HOLDINGS PLC
('Trakm8' or 'the Group')
AGM
Product Launch & Technology Update
Trakm8 Launch Fuel Saving Solution ecoN and enhance Swift Telematics
Trakm8, the AIM-listed designer and developer of licensed GPRS based hardware and software for the vehicle placement and security market, is today holding its Annual General Meeting. The Chairman, Dawson Buck, will provide the following statement at the meeting on current trading:
AGM Trading Update
"Following a successful 2011, I am pleased to report that the first few months of the current financial year commencing 1 April 2012 have shown further improvements in trading for the Group. Trakm8 continues to win new business both for its fully integrated solutions and the sale of hardware units. These represent a significant vote of confidence in the capabilities of our products and have led to a pipeline of new opportunities in the UK and overseas.
"We have maintained our strong financial position, providing a solid foundation for the current financial year; this is in contrast to previous years when there has been a considerable outflow of cash in the first half of the year.
"Trakm8 has announced a number of new products and feature enhancements in recent weeks as is evident in today's launch of an innovative and new Telematics based fuel saver solution ecoN."
Commenting on these latest developments, Chief Executive Officer, John Watkins, will make the following remarks:
Launch of ecoN
"Our new Telematics solution ecoN provides fuel saving technology for fleet managers and comprises the well-established Trakm8 T8 Telematics hardware, an in cab driver feedback display, the Swift web portal based information system and detailed reporting. The data is derived from the vehicle communication system and the Telematics hardware. Accurate fuel usage figures along with harsh braking, acceleration and cornering information enables the vehicle operator to monitor the performance of the vehicle and driver. The trend data is provided in an easy to use graphical format. As a result, the fleet operator can implement driver behaviour change processes to reduce fuel usage.
"ecoN can enable the vehicle operator to reduce fleet fuel consumption by up to 20%. This product has already undergone extensive fleet trials and the savings have been proven.
"We anticipate sales of ecoN to grow robustly over the next 18 months as pressures for companies to reduce fuel consumption and improve carbon footprint continues to intensify.
Technology Update
"In combination with the launch of ecoN, Trakm8 has significantly enhanced the functionality of its Swift Telematics solution. The Swift web portal, which originally launched in 2007, is an integral part of the ecoN product and enables fleets to be monitored as units, regions and as a whole. Swift has excellent reporting and visualisation features providing vehicle operators with a broad range of traditional tracking uses. Swift is already successfully being used by over 1,000 customers and is integrated into over 30,000 vehicles."
Closing the meeting, Dawson Buck will conclude:
Summary
"We are delighted to announce the launch of ecoN and our latest Swift product and are confident that customers will be impressed with their functionality and results.
"Government legislation, heightening fuel prices and cost pressures from a competitive industry, all represent significant growth drivers for Trakm8's products.
"In summary, we have had an encouraging start to the current financial year, have a robust financial position, and are confident in the prospects for Trakm8 based on our existing and new products."
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For further information please contact:
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Trakm8 plc |
01747 858444 |
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John Watkins, Chief Executive Officer |
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James Hedges, Finance Director
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MHP Communications |
020 3128 8100 |
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Reg Hoare / Vicky Watkins |
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finnCap |
020 7220 0500 |
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Ed Frisby / Christopher Raggett - corporate finance Simon Starr - corporate broking
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About Trakm8
Trakm8, based in Shaftesbury, Dorset is a leading technology provider, designer and developer of GPRS based hardware and software to the vehicle tracking and security market. The Group distributes its hardware and software worldwide through a network of distributors. In addition the Group provides vehicle monitoring and tracking services direct to the B2B market. Trakm8's products allow vehicles and drivers to be monitored, allowing organisations to manage deliveries and services, or track stolen vehicles down to five metres. www.trakm8.com