ComCab takeover helps Addison Lee double profits in 2021-22 financial year

Mark Bursa

Addison Lee doubled its profits in the 2021-22 financial year, despite the impact of the Covid-19 pandemic and a chronic shortage of private hire drivers.

The business achieved an adjusted EBITDA of £19.1 million, up from £7.9m the previous year, on a turnover of £218.5m, helped by the acquisition in January 2021 of black taxi operator ComCab and a move towards an allelectric private hire fleet.

Addison Lee said having private hire, EVs, courier, and taxi all available digitally and on one platform, resulted in “unprecedented demand” for its services, with a 33% year-on-year growth in passenger revenue.

Addison Lee CEO Liam Griffin said: “We’ve had a strong year, borne out by these financial results. The addition of black taxi and the growth of our EV fleet means that the company is thriving. As the only large operator trusted to hold a full 5-year licence from our industry regulator, we continue to be the clear partner of choice for passengers and London businesses looking for a premium, safe experience. We’re confident we’re perfectly positioned for continued strong growth.”

In a challenging labour market, Addison Lee has also enhanced its driver offer, with drivers now earning on average 30% more than pre-pandemic earning

Eddie Townson (1952-2023)

ProDriver magazine is saddened to hear of the death of Edward (Eddie) Townson over the May Bank Holiday Weekend. Eddie was a well-known and popular figure in the private hire industry, having served as Chairman of the Private Hire Board. Eddie was instrumental in securing Private Hire Licensing in London in 1998. Alongside his family, he successfully ran Carlton Cars in Welling from 1987 onwards.

Steve Wright, chair of the LPHCA, led tributes to Eddie, saying: “It is with tremendous sorrow that over the weekend I was contacted by Eddie’s family to say that he had sadly passed away. Eddie was a great friend, and a very special person, who worked for the Private Hire Industry tirelessly and selflessly as Chairman of the Private Hire Board and as a longstanding London PHV operator. He will be greatly missed by the many people who were fortunate enough to have met him.” levels. The driver package now includes sick pay, life cover, and a driver pension scheme, as well as the AL Rewards scheme, launched in partnership with Collective Benefits to support drivers’ financial, physical, and mental wellbeing.

Everyone at Professional Driver sends their sincerest condolences, to Eddie’s family, friends and colleagues at this difficult time.

Griffin continued: “Our recruitment efforts have paid off and we’ve overdelivered on our target of recruiting 1,000 new drivers, adding more than 1,500 since the beginning of 2022. With more than 5,000 vehicles on our fleet, we’re in a good position to offer our customers the best service in the industry.”

Addison Lee now has more than 1,000 Volkswagen ID.4 EVs in service, and it recently opened a new Fleet Hub in West London, complete with ultra-rapid charge points. Addison Lee has formed strategic partnerships with BP Pulse, ChargePoint and Bonnet to ensure drivers have access to reliable charging infrastructure.

Beyond the standard fleet, the firm is also introducing 400 zero-emission capable Audi A6 plug-in hybrid vehicles to its executive fleet, which will further enhance its credentials as London’s leader in sustainable ground transport services.

Addison Lee is also taking a digitalfirst approach to further improve the efficiency of its operations. It is now rolling out Prism, a digital solution that helps travel managers within Addison Lee’s customer base to manage their passenger car and courier programmes.

New offices for Midlands operator Local Radio Cars

A family-run West Midlands taxi firm has moved into larger premises to cope with growth.

Local Radio Cars, which was acquired by Andy Williams in March 2022, has since then doubled its driver numbers to around 100, and has moved to a new office in a shopping centre in the Birmingham suburb of Chelmsley Wood. The bigger premises are needed to house nine new recruits in the backroom team.

Williams said: “This move will allow us to be at the heart of the community and allow our customers to put names to faces. We want to retain the personal touch as we grow. Since acquiring Local Radio Cars, our team has invested heavily in advertising and incentives for customers and drivers.

The company services Chelmsley Wood, Smiths Wood, Castle Bromwich, Coleshill and the surrounding areas, and it is looking to grow further over the next couple of years. “Our ambition is to improve on our recent growth and create more opportunities for our community, either on the road or in the office,” said Williams.