3rd Sep 2015 09:04
LONDON (Alliance News) - Redde PLC on Thursday reported higher profit in its last financial year, and said performance since the end of that point has been ahead of its expectations.
Redde, which makes sure that motorists who have had accidents are able to remain mobile and provides them with legal services for compensation over injuries and losses, said it made a GBP24.3 million pretax profit in the year ended June 30, compared with GBP10.5 million in the prior year. The company increased its final dividend to 4.25 pence from 3.50p.
Revenue rose to GBP248.7 million from GBP197.4 million, while administrative expenses increased to GBP55.4 million from GBP41.9 million.
"The new financial year has started well with performance in the first few weeks ahead of our expectations and the corresponding period last year. Additional contracts have been won and work has commenced in the period and this, together with the combination of our recent strategic acquisition, organic growth and further improvements in operational efficiency, gives the board encouragement for the future," Chairman Avril Palmer-Baunack said in a statement.
Shares in Redde were up 2.5% at 162.00 pence on Thursday morning.
By Samuel Agini; [email protected]; @samuelagini
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