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Tuesday 13 August 2019

Flat first half but positive EBITDA for Starcom

Flat first half but positive EBITDA for StarcomUnaudited interim results revealed an EBITDA profit of US$75k for Jersey-based telematics firm Starcom Systems, though revenue was flat year on year at US$3.1m. Operating losses narrowed to US$374m from US$510m a year earlier as the company reduced its RnD spend and administrative costs.

Starcom management are confident that the pipeline will show an improvement in the second half and expect a positive EBITDA for the full financial year after missing out in FY18. Expectations for sales of its newly introduced Internet of Things (IoT) enabled Lokies keyless padlock are high and the company is building its long-term strategy around its Tetis shipping container tracking and monitoring solution, identified as a “catalyst” for future growth.

That should help to counter decreasing revenue from its traditional Helios SaaS product, through new contracts with a West African distributor and momentum with US sales partner Zero Motorcycles should buck the trend in the second half as demand for electric bikes ramps up.

Posted by Martin Courtney at '08:54' - Tagged: telematics   iot   H1   revenue   StarcomSystems  

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