DIRECTORS’ REPORT The economic entity’s net profit after income tax attributable to members of Cabcharge Australia Limited amounted to $12,519,962. Dividends Paid and Recommended Operating Results The Directors of Cabcharge Australia Limited in office at the date of this report are as follows (all Directors held office for the full year except where otherwise indicated): Dividends paid or declared for payment since the end of the previous financial year are as follows: Mr RL Kermode (Executive Chairman and CEO) Mr E Barukh (Executive CFO) Mr IA Armstrong - (appointed 17 July 2000) Mr GF Bradd Mr ND Ford Mr PJ Franet Mr PJ Hyer Mr DS McMichael The Hon NK Wran  AC QC - (appointed 28 November 2000) The economic entity’s principal activity is the provision of a taxi hiring account service business. There has been no significant change in this activity during the year. Principal Activity Directors The Directors of Cabcharge Australia Limited present their Annual Report on the Company and its controlled entities for the year ended 30 June 2001. Cents per Paid or Tax rate Date paid or scheduled Type share declared for franking credit $000 % As recommended and  provided for in last year’s report 30 November 2000 Final 4.5 4,905 34 In respect of the  current year 11 April 2001 Interim 4.0 4,360 34 26 October 2001 Final 4.0 4,363 30 All dividends paid or declared by the Company were  fully franked. The results show a pleasing improvement in key indicators as set out in the table below. Review of Operations Variance 2001 2000 % Taxi hire charges and fee revenue ($m) 539.8 473.2 14% Profit after tax ($m) 12.5 11.0 14% Earnings before interest and tax (EBIT - $m) 17.1 14.2 20% Earnings before interest, tax, depreciation and amortisation (EBITDA - $m) 20.2 16.9 20% Earnings per share - basic (cents)* 11.5 12.1 -5% * 2000 year EPS was affected by the Company’s capital raising in the middle of that year Contributed equity ($m) 68.2 66.2 3% Capital and reserves ($m) 96.0 89.3 8% Total assets employed ($m) 110.4 102.9 7% Net tangible assets per share (cents) 85.8 80.4 7% Return on contributed equity (%) 18.4 16.6 11% Dividend per share (cents) 8.0 7. 5 7 % Dividends paid ($m) 8.8 6.9 26% Dividend payout ratio (%) 70.2 63.4 11% Franking account balance ($m) (2001: 30% tax; 2000: 34% tax) 42.4 30.8 38% The results were achieved despite difficult times for Cabcharge in implementing changes required for the Government’s  new Goods and Services Tax (GST). Further commentary on this issue is set out in the Chairman’s Report on page 2 of this Annual Report.  CABCHARGE AUSTRALIA LIMITED  AND CONTROLLED ENTITIES 10 ABN 99 001 958 390