Minorplanet Systems has reported an exceptionally difficult 2009, in which it cut 40 per cent of its workforce and placed its German subsidiary into administration. The vehicle-tracking company said in its preliminary results for the year ended 31 August 2009 that it had relied on smaller business customers and was hit by a fall in demand, which was exacerbated by the shortage of lease funding. It has cut 45 per cent of overhead spending as part of its cost-cutting process and is disposing of its Australasian subsidiary. The business reported turnover reduced to £9.7m from £15.3m in 2008, and made a pre-tax loss of £3.8m, down from a pre-tax profit of £1.8m in 2008.