Transport software company ERoad has doubled its profit through an increase in sales of its units and increased revenue from existing subscribers.
ERoad is finding clear product differences among its New Zealand and North American customers. Photo: 123RF
The company has reported a profit of $2 million for the year ended March compared with a $1m profit the year before.
ERoad offers devices and software used by transport companies to track driving hours and maintenance as well as health and safety compliance issues.
Chief executive Steven Newman said the company's key markets in New Zealand and North America were rebounding from the pandemic, which had given a spur to business.
"We accelerated our growth strategies to take better advantage of opportunities that have emerged from the challenges of the last 12 months. ERoad is now stronger than ever before, better positioned to capture the increasing growth opportunities in telematics."
Revenue rose 13 percent to $91.6m, with two-thirds coming from New Zealand and most of the rest from the United States.
Newman said there were clear product differences in the markets with New Zealand dominated by driver logging and fleet maintenance products, while North America was quickly adopting the firm's dashboard camera application.
Photo: ERoad
He said its North American staff had been affected by lockdowns with many working from home but he expected a new push once they were back in the office.
Australia was a market offering considerable potential, while the firm was looking at offering applications that would assist transport firms tackle sustainability and the transition into alternative fuel vehicles.