News blog

Trakm8 Holdings

• BY: Andrew Hore |
• POSTED: 07/07/2014 |

Trakm8 Holdings has made a bid approach to mobile data capture systems services provider Belgravium Technologies. 

The Belgravium share price rose 1.25p to 6.25p, which values the company at £6.31m. Trakm8’s stated acquisition focus is machine to machine and big data businesses.

The bid approached was revealed on the day that Trakm8 published its figures for the year to March 2014. The developer and manufacturer of GPRS based hardware and software for the vehicle tracking and security market reported a 94% increase in revenues to £9.19m and recurring revenues more than doubled to an annualised figure of £4.5m. Underlying profit jumped from £38,000 to £830,000. Net cash was £619,000 at the end of March 2014.

Most of the growth came from the acquisition of BOX Telematics last October. This was an earnings enhancing deal. However, there was 14% organic growth in revenues.

Trakm8 has £4m of tax losses plus R&D tax credits so the forecast earnings per share of 5.7p is untaxed.

At 78p a share, up 8.5p, Trakm8 is valued at £22.5m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2014_57.pdf