Q1 2024 Jayride Group Ltd Market Update Call Transcript
Good afternoon, everybody, and welcome to Jayride's first quarter FY24 Results Conference Call. Today with me, I have Rod Cuthberth, Executive Chairman, and Peter Mcwilliam, CFO. The format of today's call will be Rod and Peter will present the results, and then we'd be pleased to open the line for questions. I'll explain how best to ask questions when we open the session later. Thank you again for joining us. And on that note, I'll hand over to Rod. Thank you.
Thanks, Michael, and welcome, everybody. Let me take you through the main points of the results and an overall summary, and I'll hand over to Peter to take you through the numbers in more detail.
The key points are the company booked record passenger trips in the first quarter of this financial year, up 50% on the same period last year. And Net revenue also grew in the quarter, up 24% against last year. Disappointingly though, Contribution profit margin dipped from 44% to 42% because of
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