Picture: SUNDAY TIMES
Picture: SUNDAY TIMES

Listed vehicle-tracking company Cartrack expects half-year profits to rise at least a fifth, saying demand for its software platform has not fallen.

Headline earnings per share (HEPS) are expected to rise by between 20% and 22% in the group’s six months to end-September, from 73.2% previously.

The group said in a trading update that it experienced significant distribution difficulties in the reporting period as a result of the limited capacity to install the in-vehicle technology.

“Despite these challenges, the group expects to deliver a robust earnings result in line with a significant increase in subscription revenue,” the statement read.

gernetzkyk@businesslive.co.za

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