Cabcharge full-year profit steady
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Cabcharge (CAB) has said it is ‘cautiously confident’ about the outlook for fiscal 2014 and says it expects to benefit from increased use of its products as the economy recovers.
The company posted a 1% increase in full year profit to $60.6 million on the back of a 2.2% increase in revenue to $196.6 million.
Analyst expectations were slightly higher at around $65.7 million.
While Cabcharge expects increased revenue from the further rollout of contactless cards, it did warn that regulatory changes to the taxi system in Victoria may have an impact on earnings next year.
Cabcharge declared a final dividend of 12 cents per share, taking the full year dividend to 30 cents a share fully franked, an decrease of 14%.
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