Financial Highlights

Investors Relations

Financial Highlights

Adjusted EBITDA*


(2017: £0.3m loss)

Revenues up 4%


(2017: £22.2m)

Gross profit up 15%


Cash costs reduced by


Net cash inflow from operations


(2017: £0.1m outflow)

Net cash at 31 December 2018


(2017: £4.1m)

*Restated for changes in accounting policies

Operational Highlights

  • Focus on existing customer engagement and delivery on key milestones
  • Significant product progress: CTRM fast start, tolling module, Elhub project live, I-SEM delivered
  • Carmen Carey appointed CEO with effect from 18 February 2019
  • Improved staff engagement through a series of internal initiatives
  • Completion of Recycling business disposal, receiving net cash proceeds in year of £2.9 million

Commentary from Ian Jenks, Chairman

“Forward momentum has been our watch word as we have successfully continued the re-organisation of the business. We are doing exactly what we said we would, including an investment in new products, the removal of costs, creating long-term solutions with the customer at the centre and a continual transition away from the Group’s legacy contract model.


This has put us on a strong footing reflected in the fact that we have also secured new contract wins and retained all business that came up for renewal during    the period.

As such, we are confident that the business will scale efficiently and deliver significant improvements in profitability and cash generation in the remainder of 2018 and beyond. With 95% visibility of our 2018 revenues and a cost base that is now aligned with our strategic goals, we expect our full year results to be in line with market expectations.”