Quartix notches up strong year
Vehicle tracking company Quartix said it was "delighted" with its performance last year after boosting revenue by 19 per cent.
The company, which is based in Newtown and which provides vehicle tracking systems and services to the fleet and insurance sectors, saw sales grow to £23.3 million in 2016.
It came after a particularly strong performance in the second half of the year, which helped it increase its subscriber numbers by 19 per cent to 87,889 units.
London Stock Exchange-listed Quartix is now developing its business in the USA, where it feels it could make further progress in growing sales and profits.
Managing director Andy Walters said: "We are delighted with the progress made in 2016, having increased our fleet subscription base by 19 per cent to more than 87,000 vehicles in total.
"This growth was strong in H2, following our decision to refocus management efforts on the fleet business after a strong H1 in the insurance division.
"We completed some key product initiatives and expanded our footprint in the USA, where we believe the opportunity to be more than five times the size of the UK market.
"We will be making additional investment in the year in the development of our fleet business including further development of the US market."
