Ann: 1H16 Results Presentation, page-3

Majority of decrease over pcp is due to imposed ceiling on CC charge in NSW and WA of 5%. The business itself is doing OK, though there is little to suggest they are trying to grow the business.

Vic and Qld has seen the only declines in processing fares - suggesting Uber has had solid in roads in those states whilst having "relatively" lower impact in the other states. No doubt Uber has checked CAB's growth.

So the big question: where are the growth opportunities? Their preso is very quiet on this.

CAB MUST re-invent itself. Sorties into the UK market have not borne any fruit - in fact losses - sp where to now?