Mix Telematics posts increase in subscription revenue
VEHICLE tracking company MiX Telematics posted an increase in subscription revenue in the third quarter of the company’s 2015 fiscal year.CE Stefan Joselowitz said on Thursday the growth was in the face of "increasingly difficult trading conditions globally".In the three months to end December 2015, the company reported a 16% rise in subscription revenue to R294m compared with the year-earlier period. Growth in subscription revenue was driven primarily by an increase of more than 55,000 subscribers, which resulted in an increase in subscribers of 11.2% from December 2014 to December 2015.Total revenue was R378.6m, an increase of 7.7% compared with R351.5m for the third quarter of 2015.MiX has customers in 112 countries across Africa‚ Asia‚ Europe‚ the Middle East and the Americas.The company’s share price has decreased by 14% in the past year on the JSE.Shares closed at R2.40 on Wednesday.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.