The review period was another step towards maturity in European markets and the further development of our continental network of 12 operations at present. The results of this groundwork are reflected in an improved bottom-line performance of almost 30%. During the recent European DigiCore convention, we presented new technology and a fine-tuned sales and marketing strategies which are expected to underpin continued growth in years to come.

Although European markets develop at different paces, there is a discernible increase in market demand, challenging us to increase the pace. Scandinavia is developing strongly. Germany and France still lag as a result of the culture and privacy issues. These barriers are starting to disappear, allowing us to expand our operations in these countries. Italy has been a slow starter but is now gearing up.

The market in Belgium has matured rapidly. Accordingly, Ctrack Belgium was established in May 2008 to ensure a leading position in this country. Although this is currently a small market, it is a sophisticated one that quickly adopts new technology.

The operation in Hungary started recently, headed by a seasoned and dedicated team with a long-standing reputation in the fleet management industry.

The Netherlands is one of the most mature markets in Europe. Having run this operation successfully for over ten years, we have managed to leverage our reputation to keep competitors at arm’s length. To maintain our dominant position, we have initiated a number of innovations to be launched during the new financial year.

We anticipate an increase in the number of large projects with blue-chip companies. To capitalise on this trend, we have established a European tender team early in the review period which has put us on a number of shortlists in the last six months, and we expect to reap rewards from this in the next 12 months. This multilingual team actively supports the full European operations.

The new financial year is focused on strengthening our footprint in the 12 established operations throughout Europe to enable optimal organic growth.

The review period was another step towards maturity in European markets and the further development of our continental network of 12 operations at present. The results of this groundwork are reflected in an improved bottom-line performance of almost 30%. During the recent European DigiCore convention, we presented new technology and a fine-tuned sales and marketing strategies which are expected to underpin continued growth in years to come.

Although European markets develop at different paces, there is a discernible increase in market demand, challenging us to increase the pace. Scandinavia is developing strongly. Germany and France still lag as a result of the culture and privacy issues. These barriers are starting to disappear, allowing us to expand our operations in these countries. Italy has been a slow starter but is now gearing up.

The market in Belgium has matured rapidly. Accordingly, Ctrack Belgium was established in May 2008 to ensure a leading position in this country. Although this is currently a small market, it is a sophisticated one that quickly adopts new technology.

The operation in Hungary started recently, headed by a seasoned and dedicated team with a long-standing reputation in the fleet management industry.

The Netherlands is one of the most mature markets in Europe. Having run this operation successfully for over ten years, we have managed to leverage our reputation to keep competitors at arm’s length. To maintain our dominant position, we have initiated a number of innovations to be launched during the new financial year.

We anticipate an increase in the number of large projects with blue-chip companies. To capitalise on this trend, we have established a European tender team early in the review period which has put us on a number of shortlists in the last six months, and we expect to reap rewards from this in the next 12 months. This multilingual team actively supports the full European operations.

The new financial year is focused on strengthening our footprint in the 12 established operations throughout Europe to enable optimal organic growth.