5 Nov 18

Mix Telematics forecasts a bright(er) future

Those who are in the data collection and interpretation business are positive about their future. South-African company Mix Telematics, which is listed on NYSE and JSE, has a particularly positive outlook, causing it to raise its revenue and margin projections for its 2019 financial year, reports Business Live.

Interim finance chief Paul Dell stated in a conference call that his company forecasts a revenue of €120 million, equalling a 11.85 per cent growth (constant currency), whereas initial estimates were 10 per cent.  

Mix Telematics offers fleet management, driver monitoring and vehicle tracking services. It currently has 74,000 subscribers, which should generate more income in FY2019 given the first-half performance. There is also a strong pipeline of firm orders and sales opportunities, according to Dell.

Mix Telematics plans to double its sales force in the Americas by the end of the calendar year. This should enable the company to focus on sizeable opportunities for growth in the region.

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Authored by: Dieter Quartier