LONDON: Quartix Technologies plc (AIM:QTX), a leading provider of subscription-based vehicle tracking systems, reported a 31% increase in first-half operating profit, driven by accelerated growth in recurring revenue and strong customer acquisition.
Revenue for the six months ended June 30 rose 10% year-on-year to £17.6 million. EBITDA jumped 30% to £3.7 million, while operating profit and profit before tax both climbed to £3.5 million from £2.7 million a year earlier. Diluted earnings per share reached 5.52p, up from 4.37p.
Free cash flow more than doubled to £2.5 million, and the Board proposed an interim dividend of 2.50p per share, up 67% from the prior-year period.
Quartix added 3,962 new fleet customers, lifting its subscription base to 318,947 units—an increase of 13% over last year. Annualised recurring revenue rose by the same margin to £35.0 million.
Executive Chairman Andrew Walters said the company’s improved revenue retention and cost efficiencies provide headroom for further profitable growth in 2026. Quartix also expects full-year profit and cash flow to exceed market expectations.