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Dubai Taxi Company reports first full year financial results since listing

Dubai Taxi Company (DTC) has reported its first full-year financial results since listing on the Dubai Financial Market (DFM). By the end of 2023, the company registered 46 million cab trips, an 8% increase year-on-year. The board of directors also approved a dividend to be paid in the fourth quarter of 2023 amounting to $19.33 million.

Throughout FY2023, DTC's revenues amounted to Dh1.95 billion ($530 million), up 11% year-on-year. This impressive growth is largely attributed to the outstanding performance of its cab services division, which achieved 46 million trips during the period, an 8% year-on-year increase.DTC's success is not only reflected in the expansion of its business scale, but also highlights its efforts to continuously improve operational efficiency.

DTC has been focusing on the use of advanced technology to improve operational efficiency, with initiatives including the construction of a modern fleet distribution control center and the wider adoption of e-hailing services. These initiatives have effectively contributed to the convenience and efficiency of cab services and have laid a solid foundation for the company's growth.