Transport technology services company EROAD is reporting a good start to the new financial year with 24% annualised growth in total contracted units.
The company has released its quarterly update for the three months to June 30 and says an “encouraging pipeline” has delivered decent growth and achievements.
This also includes 12% growth in North America and 4% growth across Australia and New Zealand.
EROAD recently celebrated the installation of its 100,000TH unit and was awarded Best Large Business (Services) in the Air New Zealand Cargo Export NZ 2019 Awards.
“EROAD’s growth in New Zealand met the company’s expectations for this quarter, with consistent pricing, attracting both enterprise and small to medium businesses,” it says.
“The North American market for EROAD continued to deliver as anticipated with total contracted units up 44% on Q1FY19.
“Installations have commenced for the enterprise fleet customer announced in Q4FY19 and the pipeline for enterprise remains strong and there is a solid run rate for small to medium businesses.
“The small to medium businesses run rate in Australia has yet to reach EROAD’s expectations however an encouraging enterprise pipeline has been established and, as we saw in North America, larger enterprise accounts generally involve a longer sales lead time,” the company says.
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