Minorplanet Systems is the acknowledged market and technology leader in Vehicle Management Information Systems. VMI is developed, manufactured and supported 'in-house' exclusively by Minorplanet. The company has a client base of some 4000 businesses and employs over 1200 full-time staff.

The company has come a long way in the five years since its foundation. It has established a leading presence in the market and a customer base totaling over 4,000 companies, entered into strategic alliances with world class companies to distribute its products, licensed its technology for the mass vehicle security market and made significant steps to expand VMI business outside the UK. There are now well over 80,000 installations worldwide; in fact Minorplanet is one of the largest and fastest growing VMI vendors in the world.

In a global marketplace where productivity is crucial to competitiveness, vehicle fleet operators now have access to VMI, a formidable tool with which to drive down costs and increase the value of their service for the benefit of everyone.

At the heart of the system is a Data Collection Unit, this device continually monitors and records the vehicle's position, speed and distance anywhere in the world using GPS.

Captured data can be retrieved in two different ways. The first method of information retrieval is local download. Invented and patented by Minorplanet, it is completely cost free. Data is downloaded automatically by FM radio when the vehicle returns to base. There is no intervention by the driver or system user.

The second is remote download. Data can also be retrieved when the vehicle is away from base. The system uses the GSM cellular telephone network to access stored data.

In the coming months it plans to continue its strategy for growth and for further enhancements to the VMI System. The group is planning to expand its sales force substantially and make further investments in marketing to continue the current rate of sales growth. In the last five years its revenues have grown at a staggering average compound annual growth rate of 214%.

Minorplanet also plans to increase substantially its R&D expenditure in order to enhance functionality and add many new features, giving further benefits to new and existing customers. These steps will ensure that Minorplanet maintains its technological lead in the market place.

In a research note on the company issued last December analyst David Nugent at brokers Altium Capital, concluded; Minorplanet is building real momentum in the global fleet management sector as the European operations overtake domestic activities within two years of creation. Growth seems certain to continue as the awareness and appreciation of VMI increases.

Sales grew from 17m in 00 to 53m in 01 and then up to 125m in the year to end-August 02. In the same time pre-tax profits trebled from 1.1m to 3.3m. For this year Nugent is going for sales of 144m to more than treble pre-tax profits to 10.1m worth 9.6p per share in earnings. In 04 sales of 180m could well generate 18m of pre-tax profits, worth 16p per share in earnings. Now that is some growth!

Obviously still speculative, the shares are however a cracking investment at the current 104p. Buy.

JUST GOT A FEW AT 109P, ONLY SELLING 2500 @108.75P NOW ,
UP SOON.