Taxi financier and second-hand car dealer Transaction Capital reported a plunge in interim profit as it starts to restructure its SA Taxi business, with the hope that the business will be profitable again in its next financial year.
The company, valued at R8.3bn on the JSE, reported that profit for the six months to the end-March plummeted by 382% to a loss of R1.73bn, while operating profit, generated from a company’s core operations, fell by 235% to R1.47bn...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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