30/10/2001
Vehicle tracking venture Minorplanet unveiled sparkling full year figures to end-August, with group sales swelled by 206% to £52.9m and pre-tax profits after exceptionals boosted from £0.7m to £5.3m. During the year, Minorplanet took a 62% majority holding in US telematics play @Track which resulted in a £4.7m exceptional gain on the conversion of a portion of the company's senior notes into equity. Stripping out the US acquisition, sales were still 146% higher at £42.6m and pre-tax profits were 100% healthier at £1.4m. The group established businesses in Holland, Spain, Australia, France and Germany, causing overseas start-up losses of £3.4m. Thankfully, the 'outstanding year' in the UK businesses, where sales rocketed by 83% to £31.7m, brought in pre-tax profits of £4.8m, resulting in the £1.4m figure. New customers won included the likes of Amey Highways, Morrison Construction and SITA, with companies such as P&O and Hotpoint Creda placing orders for different parts of their fleet. Turnover reached £10.9m in Europe and Australia and Minorplanet won over customers such as Shell Petroleum and Siemens Teece. Bullish directors said that the new financial year 'has started well with trading substantially above last year's levels'.
| Market cap: | £197.7m |
| PE Forecast: | n/a |
| Share price: | 284.5p |
Related Articles: |
| 01/12/2008 |
| 24/11/2008 |
| 10/11/2008 |
| 13/10/2008 |
| 03/09/2008 |
Commercial Mortgage Quote
We present absolutely free financial information and a superior financial search system.
Looking for Commercial Mortgage Quote
We have reviewed and sorted 405 odd links for commercial mortgage quote - the top 10 list is presented here.
Commercial Mortgage Quote
Looking for Commercial Mortgage Quote? Search over 15,000 sites with one click. Your source for everything under the sun.