Telematics company to grow subscriber base

October 31st, 2018, Published in Articles: PositionIT

Cartrack, telematics company which employs a software-as-a-service platform, recorded accelerating subscriber and strong revenue growth in its financial results for the six months ended 31 August 2018. The company, which operates in 24 countries and five continents, increased headline earnings per share (HEPS) by 25% and declared an interim dividend of 18 cents per share. The company grew its subscriber base by 28% to 849 772, an acceleration of the already compound growth rate in subscribers over the past six years of 21% per annum. The company attributes the growth to ongoing investment in operational, distribution and service capacity. The growth bodes well for future revenue generation – 73% of the subscriber base joined Cartrack in the past 36 months, whereas the average life cycle of customers is more than 64 months. The company’s customer service was recently recognised at the 2018/19 Ask Afrika Orange Index Awards, where it received the highest service score from customers of all companies surveyed in its category and was awarded “Car tracker” industry category winner.

Contact Lauren Human, Cartrack, Tel 011 250-3000,lauren.human@cartrack.com