One of Europe’s top suppliers of vehicle telematics and analytics increased unit installations by nearly 25 per cent in the first quarter of the year.
Quartix Technologies is to hold its Annual General Meeting later today, and in a trading statement, said its experienced “strong growth” across the early part of 2021, which is expected to continue.
Its recurring revenue increase was expected to be ahead of the same period for 2021, at £0.7m, while the total number of installations for the first quarter is likely to be nearly 25 per cent up on 2021.
Its board said its revenue was likely to be at £27.4m, while Quartix’s earnings before interest, taxes, depreciation and amortisation, was up to almost £6m.
Quartix’s chief executive, Richard Lilwall, said: “We are delighted with the increase in our installed base in the first quarter.
“As we have previously announced, we will continue to invest in new sales driving initiatives” with a focus on the United States, as well as “enhanced features in our product offering, to drive further growth during the rest of the year.”