Karooooo, the owner of Cartrack and Karooooo Logistics, reported Q2 adjusted EPS up 12% to R9.28. Subscription revenue increased 20% to R1.42bn, while logistics delivery revenue rose 36% to R189m. Cartrack subscribers grew 18% to 2.9m, driving higher recurring revenue, although its operating margin eased to 28% from 29%. Operating profit increased 19% to R422m, despite currency headwinds and higher investment spending.
Click here to read the SENS