For me, the standout set of results in the past fortnight is the exhilarating year to end-February offering from vehicle-tracking and fleet-management specialist Cartrack. But as impressive as the financial statements are — reflecting strong cash flows, improving margins and robust subscriber growth — Cartrack has, believe it or not, lagged its rival MiX Telematics on the JSE of late. Cartrack’s share price has accelerated 61% over a year, 30% over a six-month distance and has pretty much idled along for the past three months. By contrast, MiX’s share price has rocketed 147% over a year, 47% over six months and 36% over three months. MiX recently declared the strongest quarter (to end-December) in its history. Like Cartrack, its subscriber growth is compelling, with 21% year-on-year subscription revenue growth on a constant currency basis as well as almost 25,000 net new subscribers. MiX also delivered record adjusted earnings before interest, tax, depreciation and amortisation of R...

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