Fleet management technology and services company MiX Telematics has released its maiden interim results for the six months ended 30 September 2008, boasting an increased 19.5% in EBITDA margins and revenue of R432 million.
According to MiX CEO Stefan Joss, the company would have produced a higher revenue figure if the two acquisitions that had been made through the year had reflected on the company's report for the half-year.
“Halfway through our first full year of operations as a merged and listed entity, we are satisfied with the progress the group has made toward achieving both our short- and medium-term objectives,” adds Joss.
MiX acquired 100% of the issued share capital of Tripmaster, a US-registered fleet management company based in Dallas, in August. It also took 100% of Australian business group Safe Drive International (SDI), as well as 49% of SDI's interest in Driver Training International Middle East and Africa.
“Had these acquisitions both been effective from 1 April 2008, the group's revenue for the period would have increased by R50.4 million and the profit after tax for the period would have increased by R2.6 million.”
The company's financial highlights show adjusted headline earnings per share of 6.7% per share, revenue of R432 million, with R192 million annuity based and R177 million in foreign currency.
It has 198 000 subscribers for its vehicle tracking services.
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