FleetCor's approach shows yet again what closeted Australian investors fail to recognise: a very good business that they want. The cabcharge cap and emergence of secondary taxi services is all smoke. 3% market share? Are you kidding? The daily taxi usage swing is more than that. With no new taxi plates being offered, the growth in customers is guaranteed, for all operators.
I think you got the cabcharge surcharge wrong, Cabbie. It used to be 10% and the govt has restricted it to 5%. It is very unlikely, though not impossible, for it to drop to 1% - most retailers and hotels charge more than that.
CAB Price at posting:
$4.76 Sentiment: Buy Disclosure: Held