TEWKESBURY, UK – Trackwise Designs expects 2021 revenue to rise 33% to £8.1 million (US$10.8 million), in line with market expectations.

Adjusted operating loss for year is expected to widen to £540,000 pounds, compared to £190,000 in 2020.

The company said it has received more than £3.5 million in orders for the first and second quarters of 2022 from a UK-based electric vehicle OEM, and it expects additional orders in the second half of the year.

Trackwise also named Paul Cook as CFO designate, effective Jan. 10. Cook, who was most recently chief operating and compliance officer at YFM Equity Partners, will work alongside current CFO Mark Hodgkins, who is retiring in June.

The company is experiencing industry-wide supply chain pressures, which are likely to persist through 2022, but the firm says it is mitigating them as necessary.

Ed.: £1 = US$1.34

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