Vehicle tracking technology provider Trafficmaster remains on course to meet full-year expectations, despite the slump in the automotive sector.
In a trading statement, the company reported that US and UK business service revenues are up 24 per cent in the first four months of 2009. The impact of delays in procurement decisions and longer trial periods among small businesses has been offset by strong progress in the group's US Fleet Tracking business, Teletrac. And although sales from the Citroen partnership have been affected by lower van sales and destocking by the car maker, other major account opportunities remain in the pipeline. Consumer revenues are down 11 per cent year-on-year, but the profit impact is likely to be minimal due to cost-cutting initiatives.
