Its a holding Company specialising in fleet management and vehicle tracking services. They operate in Africa, France, Germany, Americas, Spain, UAE and other parts of Europe. The company was founded in 1995 and listed on the JSE in 2007.
The major shareholders (as at 31/03/2012) are: Imperial Corporate Services (Pty) Ltd, GAF Family Trust, Three Diamonds Trading 564 (Pty) Ltd and Masalini Capital (Pty) Ltd.
Since listing they have declared 1 dividend per annum ranging between 1.5 and 6 cents. Last trade share price - R1.98
ROCK CAPITAL RECOMMENDATION:
HOLD
Fundamental Valuation: R1.70
Earnings growth at 15%
Target Price: R1.95
Target Price is adjusted and recalculated monthly (after taking into account market and economic conditions)
Company results expected to be released today. Will keep you updated.
ROCK CAPITAL RECOMMENDATION:
HOLD
Fundamental Valuation: R1.70
Earnings growth at 15%
Target Price: R1.95
Target Price is adjusted and recalculated monthly (after taking into account market and economic conditions)
Company results expected to be released today. Will keep you updated.
Sources:
Standard Bank Securities
Standard Bank Securities
http://www.mixtelematics.com/en/
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