Cartrack aims to double subscribers to 2-million

Listed vehicle-tracking company Cartrack is aiming to double its subscribers as demand for its technology products soars.

Calisto said the company would stick to its tradition of pursuing growth organically, instead of through acquisitions. Telematics technology products help companies better manage and monitor driver behaviour and fuel use, among other elements. “It is anticipated that demand for actionable data will continue to increase and lucrative growth opportunities across all operating regions and distribution channels will continue to emerge.”

The region presents the greatest potential in the long term because of “fragmented market participants delivering entry-level telematics offerings”, Cartrack said. Europe increased subscription revenue by 20% to R80m.

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