May 2022 : Minicabride ltd Regains Profitability Following COVID

Book Online and get  £5 OFF EVERY Online Journey + 5% Return Booking Discount! More,Book Online and get  £5 OFF EVERY Online Journey + 5% Return Booking Discount! More,

Last Updated: 24 May 2022

Minicabride ltd, the top quality private hire, Airport Minicab company in London, revealed its financial statements today,The excellent results came just two years after the company was taken over, with the transfer of ownership taking place on the same day as the very first UK national lockdown, on March 23, 2020.

Over the previous two years, the management group has had to go through a number of difficult decisions that will affect the company’s long-term sustainability. Confronted to enormous hurdles presented by the worldwide pandemic plus legacy concerns left by the former leadership team, the company worked to decrease losses as quickly as possible, abandoning loss-making international activities in favor of focusing on the firm’s home and important market of London. It also attempted to emphasize its relationships with its associate drivers, offering them assistance during the epidemic and guaranteeing that they earned the best rates in London, as well as holiday pay, sick leave, and the opportunity of a pension..

Following London’s opening this year, the company has already seen a large increase in business, with passenger revenue increase 47 percent year over year and 53 per cent year over year from February 2021 to February 2022.

“As London resumes to normal business, we believe that this is only the beginning for us,” said Mr Kausar Shahzad, CEO of Minicabride Ltd. Our professional management team has successfully countered the severe financial circumstances which we received in 2020 by focusing on our core capabilities, all while implementing new efforts to serve Londoners and maintain the capital flowing in during pandemic. And, with travel resuming to rates seen in 2019, we are sure that this is just the beginning of the company’s return to major growth.”

After its consolidation, the company purchased Minicabride London in July of last year, making it the capital’s biggest Minicab and private hire provider. The agreement provides clients accessibility to every premium London ground transportation services they need on one platform – including Minicabs, couriers and chauffeurs – as well as boosting the firm’s pool of professional drivers.

Along with its takeover of Minicabride London, the company declared last year that it would make a quick shift to electric Vehicle for its main London fleet by the conclusion of 2023. Minciabride ltd is setting the standard for sustainability in the industry, having already invested £1.1 million in the first 450 Volkswagen ID.4s. Over the course of their three-year lives, these trucks will eliminate 11,000 tCO2 and enhance quality of air in the neighbourhoods where the business operates. This builds on Minicabride’s three-year-old ‘Greener Future Programme,’ that has seen the company offset approximately 35,000 tCO2 from passenger as well as courier services since 2019, cementing its position as London’s premier green transportation provider.

The firm’s dedication to its partnered drivers has been a primary focus despite massive modifications throughout the last two years. The year before, Minicabride unveiled its latest industry-leading driver package — introducing the best rates in London, the company now assures the London Living Wage, pays holiday pay, and offers a variety of other perks such as sick pay, life insurance, and an appealing driver pension system. Minicabride also promises new drivers £5,000 gross for their first month of work, plus top earners typically make about £2,000 a week, confirming the firm’s status as the preferred destination for London’s top drivers.

“Sitting here now, we’re really enthusiastic about the future of our business,” Mr Kausar Shahzad concluded. Since our return to the business, we’ve doubled down on our dedication to the drivers, also with our investors’ continued backing and many new projects in the works, there’s far more to come.

We’ve seen firsthand how important transportation is in combating climate change, and we’re pleased of the work we’ve done becoming an industry leader in this area. We’re optimistic that when London recovers, we’ll continue to expand and be here to serve the city we love and also have called home for more than 25 years.”

Many thanks

Mr. Kausar Shahzad


Share This Story, Choose Your Platform!
Go to Top