{"id":46551,"date":"2013-09-25T12:09:50","date_gmt":"2013-09-25T10:09:50","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=46551"},"modified":"2013-09-25T13:12:56","modified_gmt":"2013-09-25T11:12:56","slug":"our-most-difficult-period-in-15-years-digicore","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/46551\/our-most-difficult-period-in-15-years-digicore\/","title":{"rendered":"Our most difficult period in 15 years: DigiCore"},"content":{"rendered":"

DigiCore<\/a>, the\u00a0JSE-listed vehicle tracking solutions provider, says\u00a0results for the year ended June 2013 “reflect the most difficult period\u00a0since the group’s listing on the JSE in 1998”.<\/p>\n

On Wednesday (25 September),\u00a0the group noted that, while revenue increased by 2% to R863 million, it recorded an operating loss of R44.46 million, from a prior profit of R45.57 million in 2012.<\/p>\n

Diluted headline earnings per share declined to 3.3 cents, from 12.7 cents, while DigiCore reported a diluted loss per share of 21.7 cents, from a prior earnings per share of 12.7 cents.<\/p>\n

Earnings before interest, impairments, taxation, depreciation and capital items
\n(ebitda) rose 7% to R114.3 million.<\/p>\n

DigiCore\u00a0specialises in the research, design, development, manufacture, sales and support of technologically advanced GPS\/GSM fleet management and vehicle tracking solutions.<\/p>\n

For the year ended June 2013, the group increased the installed base by
\n89,228 units. This is an increase of 17% against the 76,160 units shipped for the
\nprior financial year.<\/p>\n

DigiCore stressed that the\u00a0business has gone through a consolidation process which included\u00a0management changes, closure of the Mexico office and completion of business
\ndevelopment initiatives in Asia without immediate returns.<\/p>\n

The same applied to\u00a0development costs in the UK insurance market.<\/p>\n

South Africa<\/strong><\/p>\n

For South Africa, DigiCore said that its Discovery Insure installations have risen to over 40,000 Ctrack insurance telematics\u00a0systems to date.<\/p>\n

“Strong growth is expected over coming years as the market\u00a0becomes more aware of the concept of rewarding better and safer driving habits,” it said.<\/p>\n

It added that the South African Police Service (SAPS<\/a>) saw the accelerated deployment of the\u00a0integrated Ctrack and emergency dispatching system to its 10111 operation
\ncentres nationally, enhancing reaction time and service to the public.<\/p>\n

“Development\u00a0of products for SAPS is ongoing in the light of the partnership,” it said.<\/p>\n

Outlook<\/strong><\/p>\n

Looking ahead, DigiCore said that consolidation and management changes undertaken, particularly in the\u00a0past six months, leaves the board cautiously optimistic of an improved trading\u00a0performance in the year ahead.<\/p>\n

It said that with a new technology platform in place,\u00a0commercialisation of its latest product and software solutions, and the investment\u00a0in its sales structure, the group has already started to capitalise on opportunities in\u00a0the fleet, mining, government and insurance telematics industries.<\/p>\n

“We have recaptured lost fleet management business and trust we will continue this\u00a0trend. New channels to distribute our stolen vehicle recovery products have been\u00a0opened and volumes are improving,” DigiCore said.<\/p>\n

More news on DigiCore<\/h3>\n

DigiCore director murdered<\/strong><\/a><\/p>\n

DigiCore\u2019s interim profits fall<\/b><\/a><\/p>\n

DigiCore lifts full-year revenue by 19%<\/a><\/strong><\/p>\n

DigiCore\u2019s blue sky potential<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

DigiCore says results for the year ended June 2013 “reflect the most difficult period since the group’s listing on the JSE in 1998”.<\/p>\n","protected":false},"author":9,"featured_media":8177,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[3380,363,4883,26,3888,3324],"class_list":["post-46551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-ctrack","tag-digicore","tag-discovery","tag-headline","tag-saps","tag-vehicle-tracking"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/46551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=46551"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/46551\/revisions"}],"predecessor-version":[{"id":46567,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/46551\/revisions\/46567"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/8177"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=46551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=46551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=46551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}