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P2P Transport fleet reaches 1,000 vehicle milestone

P2P Transport Ltd (ASX:P2P) has added 63 more vehicles to its fleet and in doing so achieved a significant milestone as its fleet reaches 1,000 vehicles.

Since its ASX listing on 13 December 2017, P2P Transport has added 280 cars to its fleet.

This represents 77% of the forecast additional 364 vehicles by the end of FY18.


On track to meet FY18 guidance

The company’s fleet growth will enable it to achieve its forecast FY18 revenue of $50.4 million and EBIT of $12.7 million.

Positively, P2P has taken this opportunity to advise it is tracking in line with these forecasts.

The company’s CEO also added that the pipeline remains strong.

Integrated fleet management company

P2P Transport is an integrated fleet management company that rents vehicles to professional drivers.

For example, a prospective uber driver can rent a Toyota Camry Altise for $299 per week that is maintained, insured with no lock-in contract.

The company’s fleet consists of taxis, corporate and ride-share vehicles.

End-to-end fleet management capabilities

The company’s business model comprises end-to-end fleet management capabilities including:

• Vehicle acquisition and in-house customisation;
• Vehicle servicing and driver support including repairs and maintenance; and
• Fleet management and administration including driver training and on-site services.

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