MiX Telematics, which provides fleet and mobile asset management services, said on Tuesday profit in the year to end-March rose 11.6% to R202.3m.
The “strong” end to the financial year was driven by growth in the group’s premium fleet subscriptions globally, improvements in average revenues per user, “and ongoing operating leverage in the business”. The group’s annual subscription revenue increased 18% to R1.7bn, while total revenue rose 15.4% to R2bn. Adjusted earnings rose to R254.4m from R156.8m.
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