Cabcharge Australia Limited (ASX:CAB) has attempted to reassure the market late yesterday in response to its share price taking a dive yesterday, closing 6.4 per cent down.
The RBA’s decision to alter merchant fees paid by customers would force the transport operator to change the blanket 10 per cent merchant fee it charges.
Cabcharge says its “business is based on service fees in the taxi environment in which taxi fares are totally regulated.”
In the first half of the 2012 financial year, Cabcharge generated a net profit of $25.9 million.
