17th Dec 2015 07:00
REDDE PLC - Trading UpdateREDDE PLC - Trading Update
PR Newswire
London, December 16
• News Release •
Issue Date: Thursday 17 December 2015
Redde plc (‘Redde’ or ‘Group’)
Trading Update
Current Trading
The Redde Board is pleased to announce that the Group’s strong start to the year that we referred to in our announcements in September and October has continued through into December with increasing trading volumes. The Board is also pleased to note that the FMG group has traded well since acquisition with a good pipeline of new business opportunities. As a result of these factors, trading profits for the six months to 31 December 2015 are now likely to exceed our earlier expectations and will be materially ahead of the corresponding period last year.
Results for the 6 months to 31 December 2015 and Interim Dividend
The Board expects to announce the results for the 6 months to 31 December 2015 at the end of February 2016.
Based upon trading to date the Board would expect to declare an interim dividend at that time of not less than 4.40 pence per share. This would compare to an interim dividend of 4.00 pence in respect of the financial year ended 30 June 2015.
Commenting on the announcement, Martin Ward, Chief Executive Officer said:
"The successively strong performances of the Group delivered under our Growth, Profitability and Sustainability strategy is generating good returns for our shareholders. The acquisition of FMG, which completed in October 2015, has enabled us to broaden our reach into new and related markets and diversify our earnings. The outlook for the remainder of the financial year is positive and we continue to examine opportunities to augment our sustainable growth plan."
| *ENDS* For further information, contact: | |
| Redde plc | Tel: 01225 321134 |
| Martin Ward, Chief Executive Officer | |
| Stephen Oakley, Chief Financial Officer | |
| Cenkos Securities plc (Nominated Adviser and Joint Broker) | Tel: 0207 397 8925 |
| Ian Soanes | |
| Elizabeth Bowman | |
| N+1 Singer Capital Markets Limited (Joint Broker) | Tel: 0207 496 3000 |
| Nic Hellyer | |
| Alex Wright | |
| Square1 Consulting | Tel: 0207 929 5599 |
| David Bick | |
| Brian Alexander | |
| Notes for Editors: About Redde plc: Founded in 1992 and working predominantly with insurance companies, insurance brokers and prestige motor dealerships, the Group provides a range of accident management and legal services. The Group also deals directly with large national fleets providing incident management and mobility continuity and the Group's activities also encompass a range of legal services designed to assist claimant parties in partnership with leading insurance companies, brokers and other bodies. The Group is one of the market leaders in its fields of business; it delivers accident management solutions to motorists ensuring that they remained mobile until their own vehicles are repaired or until they are put in a position to obtain a replacement and it provides legal services ensuring that they are properly compensated for their injuries and losses. The name Redde is associated, in Latin, with the concept of restoration. |
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