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Stock plunges
Page 14
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• Traffic information and vehicle tracking company Trafficinaster is to pull out of the fleet management information sector following a plunge in its share price. The firm will now concentrate on its traffic information business.
The Fleetstar UK fleet management package was launched 19 months ago and is now the subject of a management buy-out—a move supported by Trafficmaster.
The company revealed a pre-tax loss before write-offs of 116.4m in the year to last December, on sales of £31m. As trading started on Monday Trafficmasters share price stood at 26.5p, down from a high of 475p for the year.
The Milton Keynes-based company served notice of potential financial difficulty when it reported a firsthalf/pre-tax loss of £8.12m last year (CM4-10 Oct 2001).