Southwark Taxi reports excellent results for 3rd quarter of current financial year.

Press Release   •   Jan 22, 2016 07:24 EST

January. 22, 2016 – introduced the Taxicode concept a few months ago and as a direct result of this concept, the sales of Southwark Taxi have increased tremendously and the company has posted excellent results at the end of the 3rd quarter.

Releasing the Annual Report of the company at the end of the financial year the CEO of Southwark Taxi said “Taxicode is an excellent concept that enables people to hire taxis from any part of London and go to any destination without paying differential taxi rates. Irrespective of the user or the time of the day or the distance covered, the rate charged by the Taxicode operator is the same. All that users need to do at the end of the journey is pay the amount of the fare.

Users can hire as many taxis during a day or a week and the rates remain the same. At the end of the month the accounts are reconciled and the Taxicode operator is paid the sum of money. This system is so popular that it has been accepted as an alternate system of payment by most taxi and minicab operators in London.”

As per current trends going on in the taxi and minicab industry, there are several taxi operators in the cities of London and Greater London that are operating large taxi fleets and the competition between these taxi operators is very fierce. Each competes with the other on the basis of factors such as fleet size, condition of fleet, level of comfort provide, routes covered, soft skills of the taxi driver, reputation level of the taxi operator and above all price. Since inflation rate in the economy is at an all time low of 3.8%, the trick-down effect on fuel prices has been negligible. With global fuel prices remaining at an all time low and even dropping in the last few months, there has not been any scope of increasing taxi fares in London. This has negatively affected companies such as Southwark Taxi as they have been unable to increase their taxi fares.

The CEO of Southwark Taxi further said “In view of the global drop in fuel prices the available options for us are very limited. In order to differentiate us from the local competition, we are left with the choice of adding value added services such as Taxicode in order to gain a share of the market.

About Southwark Taxi:

Southwark Taxi is a premier taxi rental company based in Southwark, London. The taxi rental company has been in the taxi rental profession for more than 2 decades and offers a modern and latest fleet of vehicles for rent within London and also to neighboring places outside London. focuses on B2B and B2C segment and has both corporate users as well as individual users as its customers. Apart from offering regular pick up and drop facilities, also provides taxis on long term and lease basis to corporate users.