Fleet News

Toad reports £2.2m losses

VEHICLE technology company Toad has reported its first full year results, during which it has secured a number of fleet deals.

Toad had a turnover of £3 million for the year to March 31, 1996 - up from £200,000 in 1995 - but losses of £2.2 million - up from £900,000. Chairman Chris Evans said: 'Toad's first full year has been one of investment. We achieved significant milestones in our development plans: a core platform of security products and national reach through our 19 Install centres. This, coupled with high brand awareness, is now delivering rapid sales growth, particularly within the fleet and commercial market.'

The company has installed more than 15,000 security systems including fleet agreements with the Dixons Group, BTR Group, IBM, Virgin, Sir Robert McAlpine, Bayer and Willis Corroon. Toad recently announced a £1.5 million deal to supply Secur-Fix to the VW/Audi Group.

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