The Cabcharge Australia Limited (ASX: CAB) share price is heading in the right direction at long last following the release of its full-year results.
In afternoon trade the taxi services provider's shares are up 5% to $2.13.
In FY 2017 Cabcharge delivered underlying net profit after tax of $21.3 million on revenue of $151.9 million.
This represents a disappointing decline of almost 25% and 10% on FY 2016's numbers.
However, CEO Andrew Skelton believes that Cabcharge is now a "reset business". As a result the company can begin to invest in additional marketing and technology to promote and advance the benefits of its improved services.
Skelton ultimately expects this to lead to growth in core revenues over coming years.
However, it isn't clear at this stage whether this will mean a return to profit growth in FY 2018.
