Electronic fleet management group TeliMatrix yesterday reported revenue of R688 million for the year ended 31 March, up from R579 million in the previous financial year.
According to the group, R348 million of this was annuity-based, supporting a steady and secure cash flow, while rand-hedge performance was demonstrated by offshore revenue of R245 million.
TeliMatrix reported adjusted headline earnings of R81 million for the period, up from R61 million in 2007. The group's operating margin increased to 23.3%.
The company has only been listed for six months, during which time it delivered actual adjusted headline earnings per share of 6.8c. Despite a pre-listing statement that the group would not consider a dividend in the short-term, it elected to declare a "maiden" dividend of 1.5c per share.
In October 2007, TeliMatrix acquired the OmniBridge businesses and listed the enlarged group on the JSE in November 2007, to facilitate the acquisition.
"We are optimistic about the growth prospects of the businesses. Although our local Matrix business is vulnerable to the interest-rate cycle and the depressed state of the vehicle sales market, potential slow-down is counterbalanced by the bullish demand for more effective fleet management solutions in all the territories in which the group operates," said TeliMatrix CEO Stefan Joss in a statement.
"The two main drivers for growth in this area are high fuel costs and global health and safety considerations, which are compelling fleet owners to seek effective fleet management solutions. We are confident that we will deliver another year of solid growth "
The group said it has also entered into an agreement to acquire 100% of the equity of Tripmaster, a US feet management company that will provide TeliMatrix with a platform to launch its products into the lucrative North American market.
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