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ROB ROSE: How Transaction Capital founders cut their stake

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The taxi business isn’t as profitable as it once was, with implications for everyone, writes robrose_za.

David Hurwitz, the CEO of Transaction Capital, knew he was going to have a tough week.

“I know this announcement seems a bit alarming,” he told a meeting of investors last week after warning that profits would tumble for the six months to March. This week, he quantified the damage: earnings per share would be a brutal 370%-375% lower than last year. ..

 

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