The management of the Cabcharge Australia Limited (ASX: CAB) recently conducted the annual general meeting or AGM and the top management had stated that they have reshaped as well as redefined the business so that they can witness robust growth momentum, as well as they, can move along with the technological world. The management also stated that they have refreshed as well as rebranded the company’s corporate accounts business as well as they have increased the size of the salesforce. The balance sheet of the company is also robust as they are diversifying in the fresh as well as new revenue opportunities. Outside the Taxi industry, the large number of clients are getting the company’s innovative payment solutions as well as software.
Moving forward into FY 2019, the company has plans to make strategic deployments in the field of technology as well as marketing. They would also focus on consistency as well as the quality of the service offerings. The management of the company has reflected favourable views regarding the performance of the company in FY 2018 by stating that they are witnessing favourable momentum in the core revenue streams which includes affiliated fleet as well as payment turnover. The management also reflected positive views regarding the total revenues. It stated that the total revenues witnessed the rise of 22% on the back of organic growth with respect to the payment turnover because of the favourable momentum in the handheld payment terminals as well as in the affiliated fleet. However, the Yellow Cabs Queensland acquisition was also the contributor.
What to Expect Moving Forward?
The management of Cabcharge Australia Limited stated that they have wrapped up the Mobile Technologies International acquisition and this has the potential to provide future prospects with respect to the business. The company could also enhance the technologies across the world as well as improve the reach of the customers. The management of Cabcharge reflected favourable outlook for the company. According to them, the company is well-positioned to tap the numerous growth opportunities amidst the higher competition as it has made deployments in the technology, brands as well as towards the people. Moreover, the company would be tapping further opportunities for the acquisitions after evaluating them. Thus, it would be going forward with those acquisition opportunities which has the potential to complement the core business, help in the expansion of the operating footprint as well as which could help in innovating the product offerings.
The top management of the company also stated that demand in regard to the convenient, safe as well as affordable personal services for the transport is witnessing a favourable momentum because of the increasing population as well as urbanisation.
Cabcharge ended November 23, 2018 with the share price of A$2.210 per share which implies a rise of A$0.050 per share or 2.315% intraday. The company has a market capitalisation amounting to $260.13 million. The annual dividend yield of Cabcharge stood at 3.7%. The stock price is trading slightly towards the higher side.
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