Companies: ITH   

Shares in telematics play ITIS tracked 1.75p higher to 13.5p on a deal with the AA. From November, ITIS will supply real-time traffic flow information to AA Roadwatch, the AA's traffic and travel division. It has developed a unique system of collecting traffic flow data, called Floating Vehicle Data (FVD), that uses vehicles like Eddie Stobart lorries and National Express coaches to provide journey time forecasts and real-time traffic updates. The AA will jointly market, manage and develop ITIS' RDS-TMC technology, which is already being used by a number of car makers such as Toyota and BMW. The association will also look at ways to market ITIS' stolen vehicle-tracking system, NavTrak, to its 12m members. ITIS posted encouraging full year figures to March. Pre-tax losses widened from £7.95m to £8.7m as it invested in its technologies, but sales rose an impressive 153% to £1.5m. Chief executive Stuart Marks says better-than-expected cost-reductions helped contain its cash burn to £8.7m. 'It has been as high as over £1m, but was just £500,000 last month'. Net cash was fairly healthy, at £17.1m, or 17.2p per share. At 13p, the business is valued at £12.8 million - a substantial discount to cash. ITIS raised £27.65m when it joined Aim in October 2000. A racy punt.

ITIS Holdings	AIM	£7.78m	7.75p	0.50p
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ITIS up again on contract news			10/05/2006