Uber Sales and Profit Growth

Ride-sharing app Uber more than doubled its UK revenues and profits last year.

The company cornered a bigger share of the taxi market.

It had a turnover of £23.3m in the year to December 2015, up from £11.3m in 2014, according to accounts filed by its UK holding company Uber London.

Profits also rocketed 106% to £1.83m, compared with £888,436 in 2014. The company paid. £410,851 in corporation tax.

“This has been a period of rapid investment for Uber in the UK, expanding from just three cities at the start of last year to more than 20 today,” said an Uber spokesman.

“While we recorded a profit here last year, globally we make a loss as we are a young company that is still expanding and investing heavily,” they added.

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