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| Acquisitions boost profits at Cybit |
| Written by Business Weekly | |
| Thursday, 14 June 2007 | |
|
Ahead of full year results due in July, Cybit holdings has predicted pre-tax profits for the year to be in the region of £600k, ahead of management expectations, boosting its share price by almost 15 per cent.
The Godmanchester-based firm, a vehicle tracking, satellite navigation, car pool management and lone worker solutions provider said that fourth quarter trading had been particularly strong as a result of growth from new business wins and an increased level of contract renewals for both its core businesses and recent acquisitions, Bluefinger and Cybit Positioning Solutions. Cybit, which will release its results for the year until March on July 3 said that it expected pre-tax profits to exceed the £600k mark, a steady increase from £200k for the previous year and a £1.5m loss for 2005. Shares in Cybit have seen a mountainous 14.29 per cent climb, growing 7p to 56p. |
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