Cartrack hits 700,000 active customers
Listed vehicle tracking and telematics technology group, Cartrack has reported hitting a subscriber milestone, with 700,000 active customers across its operations.
This milestone comes one month after passing 500,000 subscribers in South Africa, alone.
The subscriber growth was driven by a dedicated workforce focusing on consistent customer engagement and the ability to better meet demand for the Cartrack technology, the group said.
Cartrack currently has a presence in 24 countries which span Africa, the Middle East, Europe, Asia Pacific and the USA.
In October the company reported a 20% rise in headline earnings for the six months ended August 2017, to R138.1 million.
Revenue was up 14% to R629.9 million, with an operating profit climbing to R200 million, from R168 million previously.
“The outperformance in our subscriber growth over the last year is a direct result of a dedicated and motivated workforce. We are constantly upgrading our market offering to our customers through our innovative and reliable products and services,” it said.
Notwithstanding global economic and foreign exchange volatility, Cartrack said it expects to continue double-digit subscriber and revenue growth in the foreseeable future.
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