Traffic information and in-car navigation group Itis Holdings cut its losses last year after recording its first ever second half profits since listing on the Aim market.
The Cheshire company, which has supply contracts with 16 carmakers, including Mini and Land Rover, yesterday announced a net loss for the year to March 31 of £1.21 million compared with a deficit of £ 6.14 million previously.
Full year turnover rose by 44 per cent to £10.2 million on the back of a clutch of new contracts and the company said it had posted its first ever net profit of £340,000 in the second half of the year.
Distribution and administrative costs were cut by 25 per cent, or £1.67 million, and the company entered the new year with cash balances of more than £3 million.
Itis said orders for its CFVD traffic monitoring system were ahead of expectations in the current year.
The company supplies historic vehicle flow data to the Department of Transport in Britain, Maryland in the US, the Flemish Government in Antwerp and the Scottish Executive.
"We have been actively marketing FVD to all local authorities. This has led to several contracts and we have a significant amount of work in progress," the company said.
Chief executive Stuart Marks added: "We remain confident of continued growth across all of our businesses and of further contract wins for our CFVD technology, which will make it an increasingly important contributor to the group."
Mr Marks said the board was "confident that ITIS will sustain its exciting high growth".