DigiCore Boosts Full-Year Revenue By 19 Percent
DigiCore Holdings Limited, the Johannesburg Stock Exchange listed telematics technology group and parent company of Ctrack, grew its revenue by 19 per cent to £63 million for the financial year ended 30 June 2012.
In addition, EBITDA was £7.8 million and units shipped increased to 78,000 units for the period.
The group’s domestic operation in South Africa saw revenue rise by 11 per cent for the year, while international revenue grew by 42 per cent to £21 million. The international performance was partly supported by the first-time consolidation of Ctrack Australia Pty Ltd.
The financial year saw a structural overhaul of the group in order to drive future growth strategies under the leadership of new CEO Barney Esterhuyzen. As part of the changes, the company restructured its global operations into three core owned business units – South Africa, Europe and Australia – and three regional distributor units – Asia & Middle East, Africa and Latin America. Under its Ctrack brand, DigiCore is now represented in 56 countries with approximately 650,000 systems sold globally to date.
Within the UK and Ireland, a significant investment was made during the year to create operational capacity to access insurance telematics markets. Meanwhile, substantial investment was continued to maintain technology leadership through DigiCore’s in-house R&D department, with a range of products being released over the past and coming year.