Eroad CEO rules out dividends in the ‘short to medium’ term

Eroad co-CEO Mark Heine (left), pictured with his US counterpart David Kenneson, said the company’s current policy is not to pay dividends. (Image: Eroad)

Ben Moore

Thu, 23 May 2024

Eroad will remain focused on growth in the foreseeable future, even as it achieved free cash flow positive standing in the financial year to March 31, 2024.The electronic vehicle monitoring company exceeded or met guidance for all measures, even while investing in upgrading its equipment to be 4G capable ahead of 3G network shutdowns.Revenue rose 10.1% to $182 million, while earnings before interest and tax (ebit) was $800,000, compared with negative $7.9m in the previous corresponding period.Adjusted for the 4G upgrade, ebit was $4.4m, up from...

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