Quartix chief operating officer resigns

Vehicle tracking outfit Quartix told investors on Thursday chief operating officer Ed Ralph will be leaving the Company on 31 October.

Ralph, who joined Intercede just last year, will assist the group in handing over his responsibilities before resigning from the board at the end of the month. Chief executive Andy Walters will take on the majority of his workload at the AIM-listed firm.

Elsewhere, Quartix told investors that revenue and profitability for the year ending 31 December were expected to be "at least in line" with current market expectations.

Quartix revealed back in June that revenues had grown 7% throughout its first half to £12.9m, while pre-tax profits had edged up just £100,000 to £3.9m.

As of 1200 BST, Quartix shares had slipped 3.21% to 271p.