Revenue at Irish software group Fleetmatics rose more than 39 per cent in 2013, reaching $177.4 million as the company expanded into Mexico, Australia and the Netherlands.

Gross profit for the year, excluding share-based compensation and amortization of intangible assets, was $134.5 million, up from $92.5 million in 2012. Operating income, meanwhile, was up 79.4 per cent to $23.7 million.

The company, which develops and sells fleet-management software for small and medium-sized businesses, said it had a strong finish to the year as revenue rose to $50.1 million, almost 40 per cent higher than the final quarter of 2012. Chief executive Jim Travers said market demand continued in the final three months of the year.

“During 2013, we successfully executed our strategy and extended our leadership position, as evidenced by the strong growth of new customers, increased sales to existing customers, geographic expansion, and the introduction of new features,” he said. “Looking forward, we believe Fleetmatics remains well positioned to further grow market share driven by our continued commitment to innovation and expanding our global reach.”

The number of vehicles under subscription also rose in the three-month period, to 445,000, an increase of 34 per cent.

Fleetmatics raised $125 million in capital when floated on the floated on the New York Stock Exchange in 2012.