Dec 06/Jan 07

Minorplanet Systems looks set to start 2007 in buoyant mood, having turned round its fortunes and achieved a £1 million pre-tax profit for the year ending last August. Revenue was also up by £1 million to £23.9 million.

The company is unabashed in admitting it earned a poor reputation in the early part of the decade, but points out that it has since taken on a new management team and turned what chairman David Perry accepts were "consistent heavy losses" into a profitable business with a stronger balance sheet.

In the 1990s Minorplanet was one of the pioneers in the modern era of telematics and tracking systems, and despite setbacks it remains one of the few big players in this market. Under its new management it is determined to consolidate its position and achieve further growth.