Sky High hopes as group sees an improvement in traffic data sector

Sky High posted pre-tax profits of £80,000 for the year to the end of March, compared with £250,000 losses a year earlier. Revenues grew 22 per cent to £5.8m.

The Tadcaster-based group hailed its “significant improvement in trading” amid a tough economy.

Chief executive Mark Mattison said: “It is pleasing to be able to report on both a positive set of results and a positive outlook for the group after the challenges of the previous financial year and despite the continued uncertainty in the UK economy.

“There are signs that the market for traffic data collection has improved, largely driven by the some of the government’s infrastructure projects.

“I am excited about the number of development opportunities that the business has and I am increasingly confident about the prospects for the group moving forward.”

Sky High, which is listed on the Alternative Investment Market of the London Stock Exchange, offers services including traffic counting, congestion monitoring and checking roadside air quality.

It bought data collection firm Count On Us in March for £455,000 in shares and said the combined business has the potential to become the “UK’s market-leading transport data collection business”.

Sky High earned £3.3m of its sales in the UK and £2m of sales from Australia, with both divisions showing significant increases in profits and turnover.

The group said it is trading “well ahead of expectations” and is well placed for more growth this year.

In the UK, Sky High said it saw “smaller lower value contracts” which hurt gross margin. However, there was a “definite pick-up in the market” near the end of its financial year.