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CHRIS GILMOUR: Shipshape Cartrack upbeat as it plans to duplicate local telematics success abroad
Besides being a leading player in the South African telematics industry, Cartrack is also represented in 23 other countries. CEO Zak Calisto sees a very bright future for global telematics and believes Cartrack and other industry players should thrive. Global information technology consultancy Gartner predicts 20% average annual growth in this segment over the next five years to $55bn in revenue. With all players experiencing good growth, Calisto cautions about Cartrack’s August interim results in which headline earnings per share grew 20%. "If anyone thinks we’re doing great, we’re not. We’re just doing what the market’s doing," he says.