Founded in South Africa in 2001, Cartrack Holdings is a leading provider of fleet management, stolen vehicle recovery systems and insurance telematics. The company intitially focused on stolen vehicle recovery services, which led to the Cartrack system being developed for sale to the sub-Saharan Africa market. The company expanded its offerings in 2007 (alongside the rapid development and convergence of telecoms services) by launching user-friendly fleet management telematics services and driver risk assessment offerings in the field of insurance telematics.
Whilst the group’s principal operations still lie in South Africa, Cartrack has embarked on an expansion drive into the rest of Africa, Asia and Europe, and today boasts 530 000 clients in 21 countries.
Cartrack’s tracking system uses the GSM network as its primary communication platform – the most extensive network available to the industry. The company is the only vehicle tracking company to boast an independent 93% recovery rate of stolen vehicles. Cartrack shares are available to buy under the Business Support Services sector of the Johannesburg Stock Exchange (JSE), where Cartrack share price is in a period of recovery.
Cartrack Holdings Shares Growth Driver
Cartrack enjoyed impressive performance for the financial year ended 29 February 2016, with headline earnings and earnings per share both increasing by 27%, dividends increasing by 20% and its active subscriber base growing by 17%.
Contract subscription revenue also grew by 20%, and this facet of the business represents 84% of total revenue, 56% of which comes from Cartrack’s fleet management subscriber base. Cartrack has experienced good profitability in all its regions, apart from the new country start-ups in Asia and the Middle East, which are forecast to start bearing fruit in the 2017 financial year.
Depsite a sharp decline in the rand, Cartrack has made good gains from the net effect of currency fluctuations on its global business. The company has also placed considerable focus and capital investment into technology innovation, with next generation telematics units at an advanced stage of testing. New mobile applications and other products are also being developed in order to enhance performance and convenience.
Cartrack believes that the telematics industry is experiencing tremendous opportunity through significant and growing applications, not only in vehicles but in
tracking of other assets and mobile technology. The company aims to buy into these opportunities to complement is well-established vehicle recovery business. In June 2016, Cartrack announced plans to branch out into the United States to tap into the huge market there, although the move should only start generating profits after two years.
Cartrack Holdings Group Investor Tip
Cartrack is a strong cash-generative business which has the capabilities needed to diversify its product portfolio and establish a foothold in international markets. The live online stocks chart shows that Cartrack share price took a plunge at the end of 2015, but is slowly creeping up – promising signs for investors looking to buy the shares. Although the constrained market conditions could hamper significant growth in Cartrack shares, the company is growing in international markets and may be a good purchase in the medium to long-term.
Cartrack Holdings Major Shareholders
Onecell Holdings, LMA Madeira.
How to buy Cartrack Holdings Group Shares
Cartrack Holdings : How to buy Cartrack Holdings Group Shares Online
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