25 November 2011 - Chairman's Annual Report  2010-11

The 2010/11 year saw a recovery in 131-008 national call volumes after the downturn in 2009/10 following the Global Financial Crisis. Successful calls to 131-008 in the last financial year were up by 4.6% when compared to the 2009/10 year, recovering almost half of the losses in call volumes during that year. With the current and ongoing uncertainty about the world economy, the company expects moderate further growth in call volumes over the 2011/12 year.

The net profit for the company last financial year was $24,123.00, an increase of 22% compared to the previous year. Total revenue increased by 5.95%. The recovery in national call volumes exceeded the company’s forecasts and a better than expected return on investments helped boost revenue.

Administrative and operational expenses for the year remained steady compared to the previous year. The Call Rebate Scheme returns company revenue directly to member taxi services. In May and June of 2011, almost $236,000.00 was returned to members under the scheme. At this stage, the company expects the scheme to remain in place over the coming years.

In late 2010, the company invited those shareholders whose Licence Agreements had expired and those who have never taken up the offer of a Licence Agreement to execute new Shareholder Licence Agreements thereby securing their long term access to the 131-008 service. The vast majority of those taxi services accepted the offer, which indicates how important the 131-008 service is to their taxi businesses. Although the company’s share register remained open throughout the year, no new shares were issued.

Next year will mark the twentieth anniversary of the Taxi 131-008 Limited. Back in 1992, the company’s founding shareholder taxi services saw the benefits to their own company, the taxi industry and the public at large of a national taxi phone number. By the year 2000, 131-008 was well and truly Australia’s premier national taxi phone number. In that year, the company developed a standardised national taxi livery, which included the trade marked “131-008 logo”. The overwhelming support of the 131-008 national taxi livery by member taxi services, large and small and Australia wide was instrumental in 131-008 becoming the nationally recognised taxi brand that it is today.

Consistent promotion of 131-008 by taxi services through the use of the standard national livery strengthens the brands identity Australia wide. There is no doubt that consumers, of any product or service, find comfort in and are drawn to established national brands, and taxi users are no different. Today, every taxi service using the 131-008 standard livery gains all the advantages that come with of being part of a national brand.

131-008 taxi services have invested significantly in the 131-008 brand over the past decade and the company will vigilantly protect the brand on behalf of its shareholders.

Personally, I became a Director of Taxi 131-008 Limited in 2004 and have been the Chairman of the company since 2005. Today, I will step down from the Board, having been actively involved in the taxi industry since 1967. Over the years I have been privileged to be involved with this company and to witness the beneficial advantages to taxi companies, both large and small, working together to create a truly national taxi phone number in Australia.

I thank all shareholders and licensees for their cooperation over the years to myself and the directors and I wish you all the best for the future. I also wish to acknowledge the insight and persistence of the founding taxi companies and management for creating a service that is controlled and owned by the taxi industry.

Finally, I would like to thank my co-directors and the Executive Officer for their support throughout the year. On behalf of the Board and the shareholders, I wish to acknowledge the contribution Kevin Wigg has made to the company. His two-year tenure as a Director of the company comes to an end today.

On behalf of the Directors and management, I thank all members for their support and we look forward to continuing our mutually beneficial relationship.

Garrie Woolford

Chairman

25 November 2011

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