Update on expected results for 2017
In the Company’s trading update announcement of 18 January 2018, the Board set out its expectations for the results for the year ended 31 December 2017 which were subject to audit. Although the audit process is not yet completed, it has become clear that the final results for 2017 will differ materially from those previously anticipated in that announcement.
Although the Board still expects that, compared with the results for the previous year, the results for 2017 will show a considerable improvement in revenues and gross margins and a significant reduction in consolidated net loss after taxation, the Company is now likely to report a consolidated net loss after taxation materially higher than the breakeven to small loss previously indicated. The major variances relate to share-based payment costs, unrealised exchange differences and certain holding company costs.
Full details of the variances from the results anticipated will be given in the audited financial statements which are expected to be published during the week beginning Monday 5 March 2018.
As previously stated, the Company is experiencing one of its highest levels of orders for delivery in the first half of the year. This reflects increased orders for the higher margin Tetis, Kylos, Kylos Air and Watchlock products.
Established in 2002, Starcom Systems is a leading global company, specializing in advanced automated real- time solutions for remote tracking, monitoring and management of vehicles, containers, assets and people.
Products are sold in more than 53 countries, and offered in 32 languages around the world.
Starcom offers real time tracking systems for fleet management and security applications of the vehicle and driver, container GPS and satellite monitoring, merchandise tracking and management, and a personal locator for the protection of individuals.
All systems are characterized in strength, stability and continuous performance.
As a publicly traded company (on the AIM Market of the London Stock Exchange), Starcom Systems complies with the highest and most strict regulations in the market, proving its stability and reliability.
Starcom Systems’ products are practical, easy- to- use, wireless solutions, consisting of unique software and an innovative hardware. Starcom’s GPS tracking systems allow the end users a real-time online tracking of their assets (mobile or fixed) anywhere, anytime.
As a global company, Starcom Systems’ products meet world-leading standards and carry multiple certifications including E 24 certification, Safety certification, EMC test certification, Tuv-Rheinland certification and more.
Starcom’s commitment to uncompromising quality and professionalism, and its continuous investment in R&D, position Starcom Systems and its vehicle tracking systems as a technological leader. Thanks to that, Starcom Systems delivers prompt, precise GPS tracking systems in every region and in any platform requested. Thanks to the user-friendliness of the system, it provides useful and effective solution, based on each user’s settings and requirements.
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