8th Feb 2007 11:49
Accident Exchange Group PLC08 February 2007 FOR IMMEDIATE RELEASE 8 February 2007 Accident Exchange Group Plc SHARE PRICE MOVEMENT The Board of Accident Exchange Group Plc ("Accident Exchange" or "the Company")notes the recent fall in the Company's share price. While the Board is not aware of any specific reason for the fall in share price,the opportunity is being taken to provide some additional information on tradingthrough to the end of the Company's third quarter to 31 January 2007. As indicated at the time of the interim results announcement in mid-December,the results for the year to 30 April 2007 would be biased towards the secondhalf year, reflecting the growth in the number of dealer referrers in the firsthalf and the effect of the darker, wetter winter months as compared to thesummer months. The number of rental days represents a key business metric for the Company.Whilst the number of rental days has shown strong progressive growth both on aconsecutive quarter-by-quarter basis and when compared to the comparable periodslast year, the rate of growth in Q3 was below the Board's expectation despite itbeing 64% up on the comparable period last year and 28% up on the precedingquarter: +-----------------------+-----------------------+-----------------------+|Year to 30 April | 2007| 2006|+-----------------------+-----------------------+-----------------------+|Q1: May - July | 135,000| 72,000|+-----------------------+-----------------------+-----------------------+|Q2: August - October | 155,000| 85,000|+-----------------------+-----------------------+-----------------------+|Q3: November - January | 198,000| 121,000|+-----------------------+-----------------------+-----------------------+|Q4: February - April | n/a| 126,000|+-----------------------+-----------------------+-----------------------+ The motor dealership referral base continued to expand in Q3 and the Boardconsiders there to be a further healthy pipeline of potential new dealershiprelationships. Furthermore, the fourth quarter of the current financial year isexpected to be a very active trading period and is expected to benefit from anincrease in dealer referrals. As much remains to be done at this stagein the year it is too early to update detailed guidance for the year as awhole. Ends Contacts: Accident Exchange Group PlcSteve Evans, Chief Executive 08700-116 719Martin Andrews, Group Finance Director 08700-053 649 BanksideSteve Liebmann or Simon Bloomfield 020-7367-8888 About Accident Exchange Based in Coleshill, West Midlands, Accident Exchange delivers accident management and other solutions to automotive and insurance related sectors. Fully listed, the stock code is LSE: ACE. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ACE.L