New data released by Netstar, the vehicle tracking and recovery firm owned by JSE-listed Altron, has shows clearly the massive impact of last week’s riots on South Africa’s trucking industry.
Fresh from the successful listing of its former subsidiary, Bytes Technology Group, in the UK, could Altron look at an unbundling of Netstar next as it seeks to unlock further value for shareholders?
JSE-listed technology group Altron has cut its final dividend by 24% to 55c/share to preserve cash amid the economic upheaval created by the Covid-19 pandemic.
Data from vehicle tracking companies Netstar and Tracker shows the number of vehicles on South Africa’s roads plunged during the first few days of the national lockdown – as did vehicle theft and hijackings.
All new Toyota and Lexus vehicles sold in South Africa will be fitted with a device that provides telematics and a Wi-Fi hotspot to which up to 15 users will be able to connect.
The turnaround at Altron is gathering steam, reporting a 50% improvement in full-year headline earnings per share from continuing operations.
Netstar, a subsidiary of JSE-listed Altron, said on Monday that it has signed a joint venture deal with C Ahead Technology to offer insurance and fleet telematics in India.
South African Sigfox Internet of things operator SqwidNet has signed three major deals to roll out the technology in consumer and business applications.
Altron subsidiary Netstar has partnered with Dark Fibre Africa’s Internet of things business SqwidNet to roll IoT solutions in South Africa.
Altech Netstar, a subsidiary of JSE-listed technology group Altron, has acquired 100% of Australian fleet management business Fleet Logistics for an undisclosed sum. Fleet Logistics, which trades as EZY2C, specialises in