1. ITV Report

Uber sees UK profits surge amid uncertain future in London

Uber saw its UK profits surge 65% last year amid rising demand, but the app is still facing an uphill battle to keep its service running in London.

  • The company said its UK operations raked in £36.9 million in revenue for the year to December 31, up 59% from £23.3 million a year earlier
  • Pre-tax profits surged 65% from £1.8 million to more than £3 million, while its tax bill rose from £410 million to £551 million

The company went from operating across 20 UK cities at the start of 2016 to around 40 by year-end.

We continue to invest in expanding our business in the UK. Uber is also creating many economic opportunities in every city we operate in.

The vast majority of the revenue generated by our technology goes directly to drivers who use our app and so stays in the local economy.

– Uber