Johannesburg - Cartrack Holdings plans to launch a start-up operation in Orlando in the US by the end of this year.
The listed fleet management, stolen vehicle recovery and insurance telematics group announced this in a brief statement on Friday but did not give further details.
Cartrack reported in May that it was making progress with its expansion drive through Africa, Europe, the Middle East and Asia but the US was not part of that drive.
Isaias Jose Calisto, the global chief executive of Cartrack, said in May that new offices were opened in Indonesia, Malaysia, Hong Kong and the Philippines in the year to February, using the well-established office in Singapore as the hub. Calisto said an office was also opened in the United Arab Emirates and a number of Cartrack licensees in Africa and Europe were acquired during the year.
Cartrack in May reported a 12 percent growth in headline earnings a share to 65c in the year to February. Calisto said in November last year prior to the company’s JSE listing in December that apart from South Africa, Cartrack operated in another 11 countries in Africa, three countries in Asia and three in Europe.
Cartrack shares were unchanged on the JSE on Friday, closing at R9.80.
BUSINESS REPORT