Taxi industry woes put a spoke in the wheel of Transaction Capital
The group’s stock plunged 40% as it increased the bad debt provision for SA Taxi by R1.8bn
14 March 2023 - 12:46
UPDATED 14 March 2023 - 22:30
Transaction Capital’s exposure to the embattled taxi industry, which has been hard hit by high interest rates and fuel prices, saw the group’s share price plunge by as much as 40% on Tuesday after the company painted a troubling picture of its erstwhile cash cow, SA Taxi.
The group’s stock plunged 40.17% to R16.83 by midday after saying it expects core earnings per share from continuing operations in the half-year to end-March to fall by more than 20% but by no more than 50%. It ended 37.18% weaker...
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