Parkingeye, part-owned by the Australian investor, extracts money from motorists with a business model that maximizes punitive fees.
Car parking signs are displayed at Manchester Royal Infirmary in April 2022.
Photographer: Christopher Furlong/Getty Images EuropeHere’s a business to light up the eyes of the most jaded post-Covid investor: wider profit margins than Apple Inc., faster revenue growth than Starbucks Corp., higher return on assets than Shell Plc. The only drawback is that you may have to forgo the esteem of your fellow citizens. But everything comes at a price.
No, we’re not talking about investment banking (not exactly). Or even loan-sharking. Forget designing semiconductors for the AI boom, finding the next breakthrough in medical science or solving the climate crisis. An easier and more fail-safe route to riches is running car parks, if the performance of Parkingeye Ltd, part-owned by Macquarie Group, is anything to go by.
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