The crash of MG Rover has helped to send in-car navigation specialist Trafficmaster off course.
Interim results due to be announced on September 20 will show a loss, due in part to a £563,000 write off associated with the collapse of the MG Rover business, the company said in a pre-close period trading update yesterday.
The Bedfordshire-based group, which sells its products to most major carmakers, also said that chief executive Stuart Berman was moving to a new job focusing on product development.
He remains a member of the board but is replaced as chief executive by Tony Eales who comes with a successful spell of developing Trafficmaster's US business behind him.
Trafficmaster had a contract to supply its Smartnav satellite navigation system to MG Rover which fitted the system as standard in its Rover 75 and MG ZT.
On top the ending of production at Longbridge in April, Satnav sales had also suffered from the general softening of the new car market and competition from portable navigation systems although the decline had been offset by higher demand for other products.
Describing first half trade as "mixed", the company said: "Overall, gross profit was around seven per cent below expectations resulting in a break-even performance at the operating level in the first half.
"In addition, the company will report the loss associated with the bad debt from MG Rover of £563,000, resulting in an overall loss for the period."
Chairman Colin Walsh added: "The overall financial result is disappointing."