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Mix Telematics' profits up at least R25m

Mix Telematics said on Monday (5 August) that it expects profit after tax for the three months to June to increase by between R25m and R28m‚ or as much as 13.7% from last year.

7 Aug 2013

Mix Telematics' profits up at least R25m

The group‚ which is a global provider of fleet and mobile asset management solutions‚ said the higher profits were driven mainly by growth in its subscription revenue‚ estimated to be up by 23% to between R192m and R196m.

The company said the higher profit could also be attributed to cost savings related to the restructuring of its European fleet business.

Mix Telematics expects revenue for the period to be between R295m and R301m‚ representing an estimated increase of between 5.2% and 7.4% over the comparative period.

The company said the estimated growth in net revenue was driven by increased subscriptions‚ offset by a decrease in hardware and other revenue.

The group said its actual first-quarter results will not be available until its US project‚ as set out in the circular to shareholders in July is completed.

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za