Cabcharge sees revenue growth in 1Q19

Company News

by Rachael Jones

The CEO and Managing Director of Cabcharge (ASX:CAB) has delivered his address at their AGM saying he plans to continue to see growth and support taxi networks throughout Australia.

Investments in technology and marketing are strengthening growth by the additions of Yellow Cabs Queensland and Mobile Technologies International.

With MTI in the group the company can leverage a global footprint with potential to share offerings with cities across the world. 

Payment options will continue to expand and fleet growth has continued particularly in Victoria.

Revenue for first quarter 2019 is up $5.1 million of 11.6 per cent compared to the same period last year.

In 2018 payment turnover grew by 4.5 per cent.

Shares in Cabcharge (ASX:CAB) last traded at $2.11.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.