With effect from 22 February, Datatrak Holdings changed its name to Loqus.
The company holds investments in subsidiaries engaged in the provision of fleet management, back-office processing, consulting and ICT solutions.
The group registered a turnover of €1,638,841 (2008: €1,509,309) over the six months ended 31 December, 2009. A loss before tax of €201,238 (2008: Loss before tax of €434,401) was reported by the group.
A directors’ interim report said the challenges created by the global financial crisis have been extremely difficult but not insurmountable, but the company reacted to the situation with an aggressive cost reduction programme, as well as a substantial restructuring exercise; in which every marketing effort, product-line and R&D programme were reviewed and tested for both viability and cash position.
The group has placed emphasis on seeking out new areas of growth while consolidating key successful solutions and services.
The name change was a significant step forward to allow for full ownership of the name and enabling expansion of operations beyond fleet management into new ITC development areas, consultancy and other services. The company will be reserving the Datatrak name for branding of telematics products.
A European Research and Development Fund grant was awarded to Loqus Solutions, thus highlighting the company’s dedication to innovation. It is through comprehensive research and product development, that the company’s solutions are able to stay ahead of the competition and move up the value chain; therefore providing customers with high quality, technologically advanced solutions at competitive pricing.
The company’s professional tender response team, together with blue-chip partners such as Autonomy and Raindrop have focused on the local market. The company announced it has been successful and has recently been awarded two significant government ICT tenders.
Other key events include: Loqus UK Ltd was set up in the UK with Nick Rendell appointed CEO; the company sold its call-centre and technical support centre services to a number of blue chip international clients; it signed various important Partnership & VAR agreements including: Hardware vendors such as Psion Teklogix, Cisco,
HP, Cobra, Pointer and FAL; major System Vendors including BlackBoard, Autonomy and E-DMZ.
The next months until June will continue to be difficult; however the group is rapidly evolving to meet the challenges and aggressively pursuing opportunities. It will continue to deliver value in all its operations, strengthen long term viability, and expand its market presence; effectively using its knowledge to build successful solutions for all its clients. Loqus remains 100 per cent committed to providing positive results for all its stakeholders.