SecurityWorldMarket

06/11/2019

Strong interim results for Tagmaster

Stockholm, Sweden

Tagmaster has announced its latest financial results which show that sales during the third quarter achieved almost double compared to the third quarter of 2018. The company attributes the strong growth to the acquisition of Sensys Networks which almost doubles the size of the company in sales, but also to other parts of the business that had a positive impact.

During the period the company streamlined its Group structure and its businesses in Great Britain, France and Sweden will now act under the name of Tagmaster UK, Tagmaster France and Tagmaster Nordic. Sensys Networks will continue under the established name of Sensys Networks.

Tagmaster UK, the company's british business, has developed well in gross margin as well as in results during the period and is showing increasing profits. Cost savings have been executed and the aim now is to increase sales and marketing resources to speed up growth.

According to, Jonas Svensson, CEO, "Tagmaster France has had a somewhat weaker quarter with lower sales and somewhat lower gross margin but with continued profits. The integration of all parts of our French business continues, but it will take some more time due to formalities when merging companies. We expect to be ready with the integration during Q1 2020. With a fully integrated business and further recruitments in sales we will enable a powerful attack on the French market."

Svensson said that Sensys Networks has had a quarter according to plan regarding sales as well as gross margin, while cost levels have been somewhat higher due to the reorganisation and integration work, where a number of consultants have been replaced with the company's own employees. "It has during the quarter generated double costs during part of the period, but will mean lower cost in the future. Integration work is going forward and Sensys Networks and the other Tagmaster companies have already identified and started a number of initiatives to cooperate in sales and development." He explained.

The Swedish business, Tagmaster Nordic has had a good quarter, both in volume and gross margin. Continued efforts in sales and digital marketing in all units are expected to give positive impact on sales going forward.

"Tagmaster is today an important player in a market with good potential for growth and good profits. That we every day work on improving the traffic environment in cities and metropolitan areas around the world gives us a lot of energy to continue to work hard and very focused," concluded Jonas Svensson.


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