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Cybit

  • BY: Andrew Hore |
  • POSTED: 06/07/2007 |

Telematics service provider Cybit trebled profits to £613,000 last year following the integration of two new acquisitions. 

Turnover increased from £10.2m to £13.3m in the year to March 2007. Cybit generated cash after finance costs for the first time last year. Most of the finance costs relate to the financing of sales although some relate to debt taken on for acquisitions. Cybit has net cash of £1.1m. The company sees itself as a consolidator both in the UK and Europe. Cybit still has £2.3m of tax losses and recent acquisitions have added a further £6.1m.

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