The Dubai Taxi Corporation announced a 4% decrease in net profit for 2024. The decline in profit is attributed to various factors, including economic conditions, market competition in the taxi sector, and changes in consumer demand.
Taxi owners in Dubai are required to implement measures to mitigate the impact of declining financial indicators. One possible step is to increase efficiency and reduce costs to raise business profitability under the current circumstances.
The Vice-President for Finance at Dubai Taxis noted: "We are analyzing the reasons for the decrease in profit and developing strategies to improve our financial performance. Our goal is to ensure the stability and sustainability of our business in a changing taxi market."
