P2P Transport (ASX:P2P) suspends Digital Tops

P2P Transport
P2P Transport

P2P Transport P2P has suspended its 300 Digital Taxi Tops under its Adflow brand. With around 2600 vehicles across Australia, P2P is one of Australia’s largest fleet management businesses focused on the point-to-point passenger transport industry.

Its fleet includes a range of taxis, ride-share vehicles. The organization said it has identified further technical issues with Digital Tops, making it suspend operations as the problems are investigated.

They are currently in discussions with the supplier of Digital Tops to resolve the technical issues and associated brand damage to Adflow

Past revenues from Digital Tops have been low, so the company believes it will not have any material effect on the financial performance. However, P2P had expectations of revenue levels from Digital

The company now expects no revenue from Digital Tops during the suspension period. There will be no revenue made from Digital Tops during the period. Royalty payments with Digital Tops have also been suspended.