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Trafficmaster - Smartnav close to launch

April 2002

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

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  • TFC
Trafficmaster has reported a pretax loss of £16.4m in line with January's trading statement. In addition, it has made a write-off in respect of its exit from the European fleet information market (Fleetstar). Revenues last year rose from £14.9m to £31.4m, of which Teletrac contributed £12.3m (28% organic). Net cash was £6.5mbut management state that this is sufficient to take Trafficmasterthrough to profitability (before an £8m depreciation charge). The exitfrom Fleetstar will save £12m annually and Trafficmaster says it hasbeen cash generative in first two months of 2002. Teletrac has beenprofitable since September. Capital expenditure was £17.7m down from£31.3m in 2000, which represents an end to its network roll ...

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