By Ron Coates, 6 June 2001 17:45
NEWS In-car information provider Trafficmaster has dipped into the red as it gears up for massive expansion. The provider of in-vehicle traffic jam alert and navigation systems has also warned that the slow roll-out of GPRS and 3G networks are hindering uptake of its services. David Martell, Trafficmaster CEO, told silicon.com: "We hadn't expected to see the big roll-out until 2003. But the motor manufacturers are still uncertain and have deferred decisions until the roll-out of advanced systems is firmer." Trafficmaster operates a network of 7,500 sensors along 8,000 miles of UK roads. It has sold about a million units, half of them subscriptions, and has moved into the fleet GPS market. It has also successfully moved into the European and US markets. Martell said: "Currently, we're installed in about 100,000 Vauxhalls per year; 25,000 Citroens and 10,000 to 15,000 BMWs. We have concluded a number of strategic alliances with motor manufacturers and with organisations like the Norwich Union and RAC." Last year the company reported revenues of £13.5m and profits of £435,000. Earlier this year it warned that the first half of 2001 would not be profitable due to the costs of expansion. However, the company still has significant cash reserves.
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