MiX hauls in US subscribers
Fleet management and tracking specialist enjoys 19% gain in subscription revenue to R1.43bn during the year
Vehicle-tracking and fleet-management specialist MiX Telematics has targeted the US to be its biggest geographic market in the medium term. Speaking after the release on Thursday of results for the year to the end of March, MiX CEO Stefan Joselowitz said the company’s rapidly growing US operations could represent a third of revenue within five years. "We’d like to see a rough spread of a third of the business from the US, a third from Africa and a third from the rest of the world … with the US likely to become our biggest market." Joselowitz said the US operations had seen the fastest subscriber growth in the period under review, though off a low base. MiX’s JSE-listed rival Cartrack also entered the US market recently. MiX reported R195m in subscriber revenue from the US operations, a 74% gain over the previous financial year on a constant-currency basis. Subscriber numbers in the US rose 32% over the financial year with earnings before interest, tax, depreciation and amortisation ...
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