Trafficmaster records £52,000 profit

JAM-BUSTER technology maker Trafficmaster has secured a distribution contract with Citroen for its Smartnav in-car guidance system and promised 'several more deals over the next few weeks'.

Chief executive David Martell confirmed the agreements as the company recorded its first continuing operations profit, £52,000, in three years. Revenue from Smartnav is growing at 14% per month.

Group pre-tax losses narrowed to £780,000 in the six months to 30 June from £4.92m last year. Martell expects to break into profit next year.