Trafficmaster on course for growth

Satellite navigation firm Trafficmaster said today it was heading for further growth after achieving a strong end to last year.

The company, which produces vehicle tracking systems, has been buoyed by record unit sales in the last quarter for its US-based arm Teletrac.

Trafficmaster is also focusing on partnerships with other firms such as providing products to Norwich Union for its pay-as-you-drive insurance policy. Overall the group contributed 35,000 units to the programme in 2006.

In a trading update, Trafficmaster said trading continued to improve in the second half of the year.

It added: “Operating profit for the full year is in line with expectations and the board believes the company will continue to grow profitably in 2007.”