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Trakm8 Holdings PLC on Wednesday warned of a revenue shortfall for its financial year ending March 31, after a key contract failed to materialise, compounding ongoing difficulties in the insurance market. The Shaftesbury, England-based provider of fleet management software and data to insurers now expects full-year revenue to be just under 10% lower than the prior year, citing the loss of an anticipated Optimisation contract. The company also warned of a ‘consequential impact’ on profitability. Trakm8 said it had previously expected a strong performance in its Fleet and Optimisation business, but despite steady growth in fleet telematics sales, the failure to secure the contract has weighed on its outlook. Additionally, Trakm8 said conditions in the insurance market ‘remain poor,’ exacerbating the company’s challenges. Shares in Trakm8 closed down 57% at 2.05 pence in London on Wednesday, hitting a 12-month low. Copyright 2025 Alliance News Ltd. All Rights reserved.
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