Datatrak Holdings Plc

Datatrak Holdings Plc

As announced by the Company during the last AGM, the Group is now structured having distinct business units, each addressing a particular market offering and clearly delineating the core business activities of the Group. During the second half of the year, the Group introduced three business units covering the following areas: (i) International ICT Projects (ii) ICT Solutions and (iii) Business and IT Consultancy. With regards to the latter, a subsidiary company (Datatrak Business Consultancy Limited) was established in October 2008 with Datatrak Holdings plc owning 75% of the business. As the three business units are in start-up mode, it is not envisaged that significant revenues will be registered in 2008.

Internationally, the Group’s strategy of geographical market diversification came into being in the third quarter of 2008, with conclusion of the first non-UK based contracts. Such diversification should allow the group to minimise exchange rate risk and possibly dilute as much as possible, effects of the international economic slow-down.

In the third quarter, other local revenues generated from projects and services (such as the Vessel Monitoring System) other than those generated from vehicle tracking services, were in line with the sales forecasts.

Overall, the operational performance of the Group (January to October 2008) compared to the same period in 2007 saw an improvement in turnover, notwithstanding the incurred GBP-EURO exchange rate loss. Costs registered a slight increase due to an increase in the Group’s human resource complement. All other items are in line with the January to October 2007 costs.

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