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Trafficmaster finds its way; IT.

Satellite navigation and vehicle tracking firm Trafficmaster yesterday said it had seen improved trading over the first six months of the year. The Bedfordshire-based company put some of the progress down to the strong performance of its US-based real-time fleet tracking business Teletrac.

That operation continued to grow in 2007, supported by a strengthened sales team and wider geographical reach that now includes 45 metropolitan areas in the US, with over 4,000 fleets now using the company's servic es.

Elsewhere, Trafficmaster's strategic part nerships with Norwich Union in the UK and van and truck hire business Ryder in the US continued to progress.

Norwich Union launched its first major marketing push to support Pay As You Drive insurance, which uses Trafficmaster "black box" vehicle tracking units.

Trafficmaster, which also operates the Smartnav navigation system, operates with high profile brands including Audi, Peugeot and Honda. It recently announced a new rela tionship with EMAP radio, which will improve its traffic information coverage in the Midlands and northern England, including Manchester, Birmingham, Leeds and Newcas tle.

The company is also supplying journey time data to the Department for Transport (DfT), worth pounds 3 million over three-and-a-half years.

Chief executive Tony Eales said trading for the six months of the year had been in line with expectations.

He added: "There has been further improvement in our Teletrac and UK services core business. We are also pleased with the new DfT contract, progress with the Ryder tri al, the enhancements to our traffic services and the new Norwich Union marketing cam paign. We are well placed for the future."

In March, Trafficmaster announced that revenues last year were up by a quarter at pounds 52.8 million, while pre-tax profits stood at pounds 5.8 million, against pounds 935,000 in 2005. The company was founded in 1988 and floated on the London Stock Exchange in 1994.
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Title Annotation:Business
Publication:The Birmingham Post (England)
Date:Jul 21, 2007
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