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Quartix - Fleet units grow by 7% to 79,000

September 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • QTX
  • Price:
  • 415p
Quartix, which we referred to as the “equity tortoise” in the telematics sector in our recent write up, has seen its shares go into orbit following the interims.Sales were up 26% year-on-year at £11.6m. While the higher-margin Fleet sales performance was good – up 16% to £7.2m – it was the exceptionally strong Insurance side that was the driver, growing by 47% to £4.4m. Pretax profit increased by 23% to £3.3m with eps up similarly to 5.8p.The number of Fleet units tracked grew 7% to 79,214 and the customer base increased by 5% to 8,212  - this means that on average each customer has fewer than 10 vehicles, which protects it against losing one big account. Attrition on a rol ...

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Related Articles

Quartix - Chairman buys 200,000 shares at 178p (March 2024)
Quartix - Investment in French field sales causes lift off (February 2024)
Quartix - Much to play for in the US fleet market (April 2017)
Quartix - The telematics tortoise : slow but sure organic approach (July 2016)

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