21st Jul 2005 15:22
Accident Exchange Group PLC21 July 2005 21st July 2005 Accident Exchange Group plc ("the Company") Result of AGM Accident Exchange Group plc is pleased to announce that all the resolutions putto shareholders at the Company's Annual General Meeting held earlier today werepassed. - Ends - For more information please contact: Steve Evans, Chief Executive, Accident Exchange Group plc, Tel: 08700 116719 Martin Andrews, Finance Director, Accident Exchange Group plc, Tel: 08700 053649 Jonathon Brill/Billy Clegg, Financial Dynamics, Tel: 020 7831 3113 Notes to Editors About Accident Exchange Accident Exchange was formed in 2001 to provide ABI (Association of BritishInsurers) approved car hire on credit to motorists of prestige cars involved innon-fault accidents. Having listed on AIM in April 2004, the Company has grown its car rental fleetrapidly from 250 to 1029 at the year ended 31st April 2005. The Companyreported maiden full year results for the period ended 31st April 2005.Earnings per share rose 500% to 7.2p (2004 pro forma*: 1.2p, 2004 statutory:0.8p): Adjusted earnings per share rose 592% to 8.3p (2004 pro forma*: 1.2p).Adjusted profit before taxation and goodwill rose 573% to £7.4 million (2004 proforma*: £1.1 million, 2004 statutory: £0.1 million). Turnover increased by 429%to £21.7 million (2004 pro forma*: £4.1 million, 2004 statutory: £0.3 million).Profit before taxation rose 509% to £6.7 million (2004 pro forma*: £1.1 million,2004 statutory: £0.1 million). The Company recommended a first final dividendproposed at 1.0p (2004: nil) making 1.5p for the year (2004: nil). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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