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Telematics group Trakm8 posted a first-half loss but said it expected its sales to improve in the second half compared to the first.
Pre-tax losses for the six months through September amounted to £0.85 million, compared to losses of £2.20 million year-on-year.
Revenue fell 17% to £7.3 million, while adjusted profit slumped 80% to £0.31 million.
Trakm8 said revenue had picked up during the reporting period, rising 23% in the second quarter compared to the first.
'This improvement continued into October in both insurance and fleet, resulting in this being the highest revenue month to date this financial year,' the company said.
'The insurance business benefitted from increasing device shipments to both existing and recently won customers resulting in both September and October 2020 shipments being 50% higher than March 2020.'
'Fleet sales team performance has returned to pre Covid-19 levels, with the total value of orders in the first half 16% up on the first half of the prior year.'
'However due to the second lockdown there is a softening in the market and increased uncertainty that means the group is still not able to provide guidance for the full financial year at this time.'
'However the group expects revenue in the second half to be significantly higher than the first half given current orders, even with a reasonable downside scenario taken into account for the ongoing impact of Covid-19.'