"Cash is for shareholders," says Andy Walters, chief executive of Quartix (QTX), as the vehicle tracking company doubled its annual payout. This is certainly great news for investors, given that last year the company reported free cash flow from operations of £5.4m. This has helped the group to swing from a net debt position at the end of 2014 to having £3m of net cash at the 2015 year-end, after dividends paid.
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The strong financial performance was underpinned by continued growth in the group's core UK market, where revenue increased by 27 per cent. Sales in France also motored, with revenue there up 48 per cent at constant currencies.