29th Jan 2009 07:00
NARS
29 January 2009
NATIONWIDE ACCIDENT REPAIR SERVICES PLC
("Nationwide" or "the Company")
Pre-Close Trading Update
Nationwide, the largest dedicated provider of automotive crash repair services in the UK, is pleased to make the following update on trading for the year ended 31 December 2008, prior to entering its close period.
The Directors are pleased to report that Nationwide's full year results are expected to be in line with market expectations, representing a record year. The balance sheet remains strong, with nil borrowings and net cash as at 31 December 2008 of approximately £5.4million. This is after the acquisition of six body shops over the period.
The performance demonstrates the success of the Company's twin track strategy of growth, organically and via acquisitions. In particular, results reflect the benefits of contracts and volume extensions won in the previous financial year.
The Directors remain confident that the business is well positioned for long term growth.
Enquiries:
|
Nationwide Accident Repair Services plc |
Michael Wilmshurst, Chief Executive David Loftus, Finance Director |
T: 01993 701 720 |
|
Arbuthnot Securities |
Alasdair Younie |
T: 020 7012 2000 |
|
Biddicks |
Katie Tzouliadis/ Sophie Lane |
T: 020 7448 1000 |
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