Cabcharge Australia (CAB)

Shares / Stock Code

CAB

Stock Exchange / Sharemarket

ax

Cabcharge Australia Limited (CAB) is an Australian based company engaged in providing taxi charge account service businesses and other related services in Australia. It also provides electronic payment systems for the transport sector with main operations in Asia, Europe and in Australia. CAB was listed on the Australian Stock Exchange on the 14th of December 1999. Its average annual revenue reaches approximately AUD$151 million. Its headquarters is located in Sydney, Australia and to date; around 375 people are employed in the company.

Cabcharge Australia Limited provides taxi operators and drivers with a convenient system of paying for taxi fares both domestically and internationally. Currently, CAB represents approximately 14,500 taxis from Australia's national fleet with a customer base comprised of customers from government bodies, large corporations as well as small businesses and individual accounts.

CAB, in association with ComfortDelgro Cabcharge Pty Ltd, also has operations in a different business segment as a provider of coach and bus services mainly in the regions of Australia.

Cabcharge Australia Company History

Mr. Reginal Kermode was the founder of Cabcharge Australia Limited. The company was established in 1976. It had its initial public offering in the Australian Stock Exchange in 1999.

It was in 2001 when CAB introduced its EFTPOS FAREWAY System, as payment system that could be used by its customers for payment. In January 2002, both the Combined Communications Network and the Sydney Taxi Company were acquired by the company. The parent company of Taxis Combined Service (TCS) was the CCN. TCS is an Australia-based taxi company engaged in the provision of communication dispatch services to other 900 taxis and had a fleet of over 2,300 taxis in Sydney. Cabcharge had a fleet of 1,350 cabs and the company took over the Black Cabs Combined located in Melbourne, Victoria. Black Cabs Combined is also in charged of providing around 300 taxis with bureau services.

In 2005, along with the launching of the E-ticket transactions, the company also acquired the assets of the Westbus Group in collaboration with ComfortDelGro Corporation Limited in Singapore. In 2006, Cabcharge purchased the assets of South Western Taxis.

Newcastle Taxis Limited was acquired by Cabcharge and the company got 100% of the New South Wales regional taxi company in March 2007. The company also acquired Arrow Taxi Service Limited in the same month. Then, the Ingenico of France, the EFTPOS technology company was acquired again by Cabcharge for its European business.