Quartix results on track to beat market forecasts
Quartix has said it expects revenue, profit and free cash flow for 2019 to be ahead of current market forecasts, aided by excellent progress in its core fleet business.
The firm, which supplies subscription-based vehicle tracking systems, software and services, will publish its results for the year ending 31 December 2019 on Monday 24 February 2020.
“We are enormously pleased with these results,” said managing director Andy Walters. “Quartix completed some exciting technological developments during 2019 and we will continue to invest in enhancing our fleet tracking system. Considering the competitive market we are in and the challenges that brings, to have such brilliant growth speaks to the dedication of our staff and the strength of our customer relationships.”
Revenues in the fleet industry are expected to have grown by around 10%, accounting for approximately 80% of the company revenue, and the business has also entered a range of new territories with encouraging results.
The business also continues to invest in its software and telematics technology and says it’s maintained progress in its web and mobile-based applications and launched further new variants of its telematics products. Updates have also seen the introduction of additional languages in the Quartix fleet tracking system and commercial websites, supporting expansion into Spain, Germany, Poland and Italy.