Cabcharge's interim revenue rose 5.2 per cent to $90.7 million to December 31, 2008, pushing earnings before interest, tax, depreciation and amortisation up 7.3 per cent to $49.6 million on the previous corresponding period.
The company maintained its interim dividend at 17 cents, fully franked.
Difficult economic conditions will continue to drag down revenue from corporate customers using Cabcharge's core business of EFTPOS services, but this will be offset by expected growth in revenue from non-corporate customers and new products, the company said.
In addition, there will be the impact in the second half 2009 of taxi fare increases in Victoria and Queensland which occurred in December 2008, Cabcharge said.
Melbourne Cabcharge's executive chairman Reg Kermode said the company was confident it would continue to grow during the second half of 2008/09 and beyond despite the current negative sentiment and global economic conditions.
"Life is not about surviving the storm, but learning to dance in the rain,'' he said.
Cabcharge's 49 per cent owned associate company ComfortDelGro Cabcharge will complete its purchase of 100 per cent of bus operator Kefford Group next week, Mr Kermode said.
Cabcharge and Singapore-based ComfortDelGro Corporation said on November 20, 2008 they had entered a contract to acquire Kefford for $149.2 million.
The acquisition will be funded by about $80 million worth of shareholder equity and the remainder from bank borrowings.
The acquisition will lift CDC's total fleet to 1220 buses in March 2009, and Cabcharge expects CDC's fleet to reach 1348 by the end of December 2009.
Cabcharge expects difficult conditions in the UK to continue and then improve in the lead up to the London 2012 Olympic Games.
Its UK business contributed $1.9 million to Cabcharge's interim after-tax profit, up from $1.6 million for the previous corresponding half.
The results for the first half were dented by a decline in corporate bookings due to the UK financial sector's downturn and a weaker sterling pound.
By 11.35am AEDT Cabcharge shares were up 18 cents or 3.45 per cent at $5.39.
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