Globally, Cartrack’s revenue over the six month period from March to August 2015 was S$47m, with EBITDA at S$21m. This was an increase of 18 per cent compared to the same period last year.
Cartrack attributes the strong performance to the growth in number of vehicles and the current focus on resource optimisation, road safety and vehicle pollution management among governments and corporate entities. Furthermore, Cartrack has benefitted from a strong take up of its fleet management solutions among small and medium-sized enterprise (SME) customers. In Singapore, for instance, many SMEs have adopted Cartrack solutions tapping on grants from the Singapore Government that are designed to encourage the deployment of IT solutions to boost productivity and growth.