15th Dec 2016 07:00
REDDE PLC - Trading UpdateREDDE PLC - Trading Update
PR Newswire
London, December 14
• News Release •
Issue Date: Thursday 15 December 2016
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 on 1 September and 27 October 2016 has continued through into December.
Sales continue to show an increase over the corresponding period last year reflecting both organic growth and the effect of the acquisition of FMG on 27 October 2015. As a consequence, trading profits remain ahead of our own expectations and the corresponding period last year.
Results for the 6 months to 31 December 2016 and Interim Dividend
The Board expects to announce the results for the 6 months to 31 December 2016 at the end of February 2017.
Based upon trading to date the Board would expect to declare at that time an interim dividend of not less than 4.90 pence per share for the year ending 30 June 2017. This would compare to an interim dividend of 4.50 pence in respect of the financial year ended 30 June 2016 and would represent an increase of 8.9%.
| 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 |
| Elizabeth Bowman | |
| N+1 Singer Capital Markets Limited (Joint Broker) | Tel: 0207 496 3000 |
| Nic Hellyer | |
| 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.
Related Shares:
REDD.L