Increased staffing drives up Dubai Taxi profits

Increased staffing drives up Dubai Taxi profits

Profits at Dubai Taxi Corporation rose 54 percent in 2023, which it attributes to an increase in its driving staff. The Dubai Financial Market-listed company reported revenues of AED1.95 billion ($532 million) for the 12-month period, a year-on-year increase of 11 percent. It resulted in a net profit of AED345 million and an 18 percent […]

Dubai Taxi profit up 54%

Revenue of $532m

Airport fleet to double

Profits at Dubai Taxi Corporation rose 54 percent in 2023, which it attributes to an increase in its driving staff.

The Dubai Financial Market-listed company reported revenues of AED1.95 billion ($532 million) for the 12-month period, a year-on-year increase of 11 percent.

It resulted in a net profit of AED345 million and an 18 percent net profit margin.

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A bourse filing said the increase in profits was “a result of the positive economic activity in the country, as well as enhanced operational utilisation of vehicles due to increased number of drivers during the year”.

DTC raised AED1.2 billion from its December listing after shares were priced at the top end of the marketed range at AED1.85.

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