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Financial Performance

Ctrack in the UK and Ireland are divisions of DigiCore Holdings, a global vehicle tracking, fleet management and insurance telematics company listed on the Johannesburg Stock Exchange.

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

Financial Performance

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.

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