Fleet News

Cybit turnover up 800%

FLEET management and telematics solutions provider Cybit has completed its second full year of trading with turnover up more than 800% on the previous year to more than £5 million.

The company also ended its trading year with more than 6,000 vehicles using its telematics products and services – up almost 250% on its 2002 figure of 2,500.

During the year the company launched a range of new products and services, including Fleetstar-Online, the addition of Smartnav off-board satellite navigation for Fleetstar-Online, and the introduction of GPRS support within cybitfleet.

Cybit has also added to its solutions portfolio during the last year with the acquisition of Drive-IT Systems AB in Sweden, a leading developer of solutions for the emerging car pool market.

Cybit's chief executive officer Richard Horsman said: 'Cybit's strategy of maintaining an absolute focus on telematics-based solutions that deliver tangible benefits to customers and partners – backed up by world-class customer support – has allowed the company to win important new customers and take market share from the competition.

'We believe that our aggressive strategy, coupled with continued innovation within our solutions portfolio, will help ensure a leadership position as growth within the telematics market accelerates.'

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