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Vehicle tracking specialist bucks recession with £2m operating profit

Date: 12 March 2009

Vehicle tracking specialist Quartix has posted an annual operating profit of more than £2m for 2008, and claims to be confident of growing that figure in 2009.

The firm has a base of nearly 2000 customers and 20,000 tracking systems, and claims a figure approaching £5m worth of sales last year.

"Despite the fact that 2008 was a tough year for parts of the industry, we won some major new contracts and achieved strong growth in our SME customer base," said Quatrtix boss Andy Walters. "In an environment where our competition are reducing staff numbers, we continue to recruit and invest in our future."