Trakm8 Holdings (GB:TRAK) has released an update.
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Trakm8 Holdings PLC, a global provider of telematics and data insight, reported decreased annual revenues from £20.2m to £16.1m and a shift from a modest pre-tax profit to a loss, citing challenges in the insurance market and declining fleet software revenues. Despite the setbacks, the company experienced stronger cash generation from operations and reduced net debt. Looking forward, Trakm8 anticipates a rebound in the fleet sector and is confident in improved financial outcomes for the upcoming year, with new contracts and continued business restructuring efforts.
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