Cartrack expects profit lift despite Covid-19
The pandemic disrupted installations, but the group says there was still demand for its tracking technology
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.
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