24th Apr 2015 06:21
LONDON (Alliance News) - FTSE 100-listed motor insurer Admiral Group PLC on Friday said it traded in line with expectations in the first quarter and said it has decided it will not issue interim management statements going forward.
The company said trading in the first quarter to the end of March was in line with its expectations and said no significant developments have occurred since it published its 2014 results in March.
Admiral said it does not intend to issue any more interim management statements after the one issued Friday, following the decision made in November last by the Financial Conduct Authority to remove the requirement for companies to publish these trading updates.
"Since the IMS was first introduced, Admiral has believed that an appropriate assessment of the group's performance requires the full financial information that is available at half and full year reporting rather than the limited trading metrics that are typically reported in the first and third quarter IMSs," the company said in a statement.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Admiral