Vehicle-tracking group Cartrack will hire 300 people in the next 12 months to meet the demand for its products. Earnings at Cartrack, a global provider of fleet management, stolen vehicle recovery and insurance telematics, soared in the six months to August 2017. Subscribers grew 21% to more than 666,000 in the period as subscription revenue rose 19%. CEO Zak Calisto said the group was growing at a steady pace and investing in capacity to respond to market demand. To this end, it would employ 300 more technicians and salespeople within the next year, bringing staff numbers up to 2,200 people. Cartrack’s revenue was up 14% to R630m with earnings before interest, tax, depreciation and amortisation jumping 26% to R297m. Headline earnings per share shot up 20%, with an interim dividend per share of 18c. Cash generated from operating activities was R178m. "I think our biggest earner right now is fleet management," Calisto said, referring to markets in Southeast Asia and Europe. He said e...
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