In the financial year ended 30th June 2013, key financial highlights included:
• The installed base grew by 89,228
• Revenue increased by 2 per cent to £48.35m
• Earnings before interest, impairments, taxation, depreciation and capital terms (EBITDA) increased by 7 per cent to £6.4m
• Cash flow from operating activities increased by 63% to £5.85m
In particular, the financial year saw the successful migration to a latest generation iS platform to increase the overall capability of the Ctrack product offering. Meanwhile, there was substantial investment in Research & Development, which will deliver a number of new product solutions moving forward.
There was also a number of business development initiatives that were completed including RFID monitoring technology in Asia; insurance telematics in the UK; and Latin America moving to a distributor model. Operational processes in South Africa were streamlined with the launch of DigiCore’s mobile resource management device for a paperless workflow and a fully automated installation.