P2P puts Gold Coast cabbies in driving seat
ASX-LISTED P2P Transport has hailed a win for Gold Coast taxi drivers after announcing its vehicles will be able to take bookings from the Black & White Cabs system from December.
P2P bought Black & White Cabs in August, acquiring its network and dispatch capabilities at the same time and exIT tending the services to part of its own vehicle fleet.
Yesterday, the company said it would be fitting out its 157-strong fleet on the Gold Coast with secondary devices that would enable them to take bookings from Black & White Cabs. The taxis operate under the Gold Coast Cabs banner on the Gold Coast.
Managing director Tom Varga said it meant Coast cabbies would be able to supplement their primary source of work with another source.
He said if someone from Brisbane books through the Black & White Cabs app, they could potentially be serviced by one of its Gold Coast Cabs.
“This is a huge step forward that will start to bring back share into the industry on the Gold Coast and more work to drivers,” he said.
P2P listed on the ASX in December with a business aimed at capturing some of the growing ride-share market dominated by the likes of Uber, as well as having a significant fleet of taxis.
It rents cars to independent drivers, operates across most states of Australia and has a fleet of 2600 vehicles. Its brands include Zevra, Black & White Cabs, Adflow, and Aus- tralia Wide Chauffeur Cars.
Mr Varga said it was tackling ride sharing “head on” through its innovations such as fixed-price fares.
P2P said the extension of the Black & White Cabs services meant pre-tax cost savings of $90,000 per month. It has provided guidance of $16.1 million to $16.8 million this financial year. P2P shares closed slightly up at 80¢ yesterday