MiX Telematics, the provider of fleet and mobile asset management solutions, has no immediate plans to seek out a single listing in the US. Although listed on the JSE, MiX has grown into a global business with offices in SA, the UK, the US, Uganda, Brazil, Australia, Romania, Thailand and the United Arab Emirates. MiX has American depositary shares listed on the New York Stock Exchange, but CEO Stefan Joselowitz was asked at Wednesday’s first-quarter briefing whether the company would move its domicile to the US. For the June quarter, MiX reported total revenue of R406m, up 7% from the corresponding quarter in 2016. The operating margin was considerably fatter at 10.6% (from 6% in 2016) with Joselowitz reporting successes in strict cost management. Diluted earnings per share came in at 6c (2016: 4c) prompting MiX to hike its quarterly dividend per share to 2.5c from 2c. Encouragingly MiX raised its full financial year guidance for adjusted earnings before interest, tax, depreciation...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now