Johannesburg - MiX Telematics - the dual-listed fleet management solution company - bolstered its top line in the three months to June as it grew subscribers.
However, its profit line was mostly flat at R31.9 million. In a statement issued on Thursday, the company said subscription revenue gained 13 percent to R306 million, while overall revenue came in at R379 million. This was as it grew subscribers 10 percent year-on-year to 578 000.
The company, listed in Johannesburg and New York, said its operating profit was R23 million, down from R32 million a year ago.
MiX Telematics was founded in 1996 and has offices in South Africa, the UK, the US, Uganda, Brazil, Australia, Romania, Thailand and the United Arab Emirates as well as a network of more than 130 fleet partners worldwide.
In the statement to shareholders, CEO Stefan Joselowitz said he was proud of the company’s ability to grow profitably in difficult times but was “disappointed to see continued deterioration in the energy sector, currency headwinds muting our revenue and new uncertainty from Brexit in the quarter”.