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Quartix in pole position

Sales climbed across Quartix's divisions and territories in 2014
March 9, 2015

Motor insurers and companies with fleets of lorries and vans signed up in droves for Aim-traded Quartix's (QTX) vehicle-tracking systems last year, although heavy investment in US expansion meant operating profits grew by a more pedestrian 4 per cent to £3.9m.

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Commercial fleet customers increased by 18 per cent to over 6,300, pushing recurring sales up 23 per cent. The division shone in France, with vehicles under subscription up 45 per cent. And its new US office secured its first 120 customers.

Quartix's sales to insurers also climbed as it completed over 32,800 installations - a 13 per cent rise. The upshot was a 17 per cent rise in operating cash inflow to £5.8m.

Broker FinnCap expects pre-tax profits to rise 15 per cent this year to £5.5m, giving EPS of 9.4p.