Trafficmaster shares swerve
DRIVING services firm Trafficmaster said it was “upbeat” about prospects for 2010 despite a 25 per cent drop in sales of consumer services like stolen vehicle tracking.
Shares in the company fell 7.9 per cent as broker Panmure Gordon cut its price target from 56p to 52p on valuation grounds.
Trafficmaster insisted operating profit would be in line with last year’s figure and noted tentative signs of a recovery in car sales.
Chief executive Tony Eales added: “We see a number of opportunities to make strategic acquisitions.”