Bought in today... have missed out on the impressive gains so far but solid progress is being made here and a good story developing so it looks good for more gains in the near future (imho)....

Quindell Portfolio, the brand extension company, says trading has continued positively in the period under review, building on the strong performance delivered by the Group in the first half.

The company expects to be significantly ahead of market expectations for the 15 month period ending 31 December 2011.

The Group announced back in October that it had won contracts with six established brands and one exciting new digital brand within the insurance, telecoms and utilities sectors, including for the first time, solar energy; and that revenues for 2011 were expected to be ahead of market expectations.

Since then, the Group has won further major contracts with established brands within the telecoms, utilities, on-line education and insurance sectors for both its technology enabled business process outsourcing division and software solutions division.

In aggregate, these contract wins could contribute over £6 million of annualised revenues. In addition, the Group has acquired two further businesses, Maine Finance and, most recently, Mobile Doctors Group Plc.

Margin performance has also been strong and, for 2011, margins are expected to be between 35 and 40 per cent. within its technology enabled business process outsourcing operations

Winnie looks like Harry Enfield to me in one of his characters.

Quindell Lawyers Letter Received – it’s Stalinist and I shall see you in Court Bitchez

2014-08-19

I have this morning received a lawyer’s letter from Quindell (QPP) as has ShareProphets. It does not cite any specific factual errors made by me but none the less demands that I withdraw all articles on ShareProphets, put my name to an apology and admission of God knows what else drafted by Quindell and that I never write about the company again. Is this not a tad Stalinist?

I am threatened now with an injunction and legal proceedings.

Separately on its blog but not via RNS Quindell has put out a statement suggesting that I am just regurgitating Gotham in an amateurish fashion and answering my points. I think Quindell knows that I have taken Gotham a lot further. I am not – as the blog intimates – involved in a co-ordinated shorting campaign and it is amateurish of Quindell to suggest that without any evidence. You can read Quindell’s blog HERE.

In its blog

Quindell does not state which company accounted for 41% of 2011 sales. Was that TMC and if so is it right to book this all as profit when the sales were funded by selling Quindell Shares.

Quindell says the shelf company set up by its lawyer Mr Mark Hepworth was not in fact owned by Mr Hepworth but by his employer Blake Morgan. Do lawyers normally bill clients this way? Really? I did not as the blog suggests I did state that this had anything to do with future Quindell deals I merely raised it as highly unusual. Perhaps Blake Morgan bills all its clients this way?

Quindell asserts that BestPriceHotDeal was bought for its warehouse capacity etc. Why then did its sole director Mr Dods tell me on Friday that his company had nothing to do with Quindell and that the shares Quindell bought were bought to help out a mate of Rob Terry?

A lot of EBITDA numbers are banded around to justify various transactions but with Quindell’s accruals and inter company transactions policies that means nothing. What cash have these acquisitions generated?

We are now told that shelf companies were bought for seven figure sums because of the future revenues the vendors will bring to Quindell but this is not a golden hello. Whatever. I’ll leave that to HMRC to decide.

The blog also states that it has initiated legal proceedings against me. Well Dorsey & Whitney has sent the fascistic letter and given me until 4PM to respond.



I have responded.

Dear Sirs,



If there are any factual inaccuracies in any articles I have published I will correct them. Your demands otherwise are unreasonable.

Perhaps you might clarify which company accounted for 41% of Quindell 2011 sales. That and numerous other matters referring to other similar transactions involving PT Healthcare, Ingenie and Himex will no doubt come out as part of as extensive disclosure list should you wish to take this matter further. I personally cannot wait.

I regard your demand to dictate an apology, to have articles removed just because you do not like them and to bar me from writing about Quindell ever again as Stalinist if not Orwellian.



As such, see you in Court bitchez.

Tom Winnifrith

- See more at: http://www.shareprophets.advfn.com/views/7287/quindell-lawyers-letter-received-it-s-stalinist-and-i-shall-see-you-in-court-bitchez#sthash.iAnwpveb.dpuf

is that man just a total and utterly arrogant arsehole or have i missed a redeeming feature?

You have missed nothing!

Youve missed this.....

The Old Bill take Away Death Threat evidence and ask Tom Winnifrith for a list of folks who hate him er….
Published 11 days ago

And so the Old Bill finally arrived in Clerkenwell yesterday. They were diligent, have bagged the death threat and seem to be taking enquiries seriously. A nice policewoman is in charge and when quizzing Real Man Pizza Company boss Darren Atwater, who opened the letter, she asked “might Tom Winnifrith supply a list of those who hate him?” Er…

Darren says that he found himself thinking of a telephone directory.

Apparently anyone on the list gets their fingerprints taken and may be asked for a saliva sample. I was thinking about the mother-in-law but she is actually being rather nice to me these days. Some of my wife’s mad left wing colleagues would rather enjoy boasting about the fascist Police State so I will not give them the pleasure.

How about Rob Terry at Quindell (QPP)? I am sure he hates me and getting his dabs done now could just save time for later if he finally fesses up that related party TMC was the 41% customer in 2011 so making the accounts for that year utterly fraudulent. But I am not sure that the death threat was written in the style of Mr 2+2 can = 5 – it was not accompanied by a complicated powerpoint presentation after all.

So who to suggest? The entire shareholder list for Quindell, blinkx, Globo and Phorm? Jim Ellerton? Terry “Junk” Bond? Certain employees of The Evil Empire? Certain members of the London financial PR community?

I shall take this seriously and provide a serious short list. But I should perhaps flag up that there may be a rather longer list of potential suspects out there.

- See more at: http://www.shareprophets.advfn.com/views/7470/the-old-bill-take-away-death-threat-evidence-and-ask-tom-winnifrith-for-a-list-of-folks-who-hate-him-er#sthash.mEpQFTNu.dpuf

I'veI just remembered who he reminds me of - it isn't Francis as posted above - its David Icke.

Falling back every day.

Approaching 9p old money.
2517

That's right George.

very happy to see it, though my position is modest

I fear investors will lose a lot of money here.

very happy i'm short :-)

Good luck this is going to 50p imo.

just may add more

The Board of Quindell Plc (AIM: QPP.L), a market leading global provider of professional services and digital solutions, notes the recent share price performance and confirms that it knows of no reason for such falls.

As originally planned, the Company will update the market on or before 15 October 2014 on its trading for the quarter ending 30 September 2014 and the continued positive progress being made by the Group in respect of all key performance indicators including cash performance.

Q3 TRADING STATEMENT

Quindell Plc (AIM: QPP.L), a market leading global provider of professional services and digital solutions, is pleased to provide its trading statement and financial highlights, subject to audit, for the third quarter ended 30 September 2014.

Highlights
· Gross sales of c.£200m incorporating Revenue of c.£198m which increased by 115% (Q3 2013: £92.1m) due primarily to strong organic and synergistic growth; businesses acquired in the last 12 months represented less than 10% of Revenue
o Professional Services sales of c.£177m increased by 124% (Q3 2013: £ 79.0m) driven by major organic contract wins announced during H2 2013 and H1 2014
o Digital Solutions sales of c.£23m increased by 20% (Q3 2013: £19.1m) with an increasing mix of transactional, subscriptions and other recurring revenue and less one-time license sales than in 2013
· Adjusted EBITDA1,3 of c.£83m increased by 141% (Q3 2013: £34.5m) due to Q3 2014 having an increased amount of high margin Digital Solutions revenue and growth of Legal Services revenue
· Adjusted EBITDA1,3 margin of 42% of Revenue (FY 2013: 36%) which is at the upper end of guidance
· Adjusted EBITDA split broadly as to 80% Professional Services and 20% Digital Solutions
· Adjusted EPS1,2 of c.15 pence increased by 54% (Q3 2013: 9.75 pence)

Cash flow and Debtor Management
· Adjusted operating cash flow1,4 for Q3 significantly ahead of expectations and guidance with c.£9.4m inflow compared to original guidance of breakeven (H1 2014: £51m outflow also £9m ahead of expectations) which includes c.£3m of business integration activities which were planned and included in prior guidance
· Operating cash flow also significantly ahead at c.£9.2m after £0.2m of exceptional costs
· Legal Services cash collection ahead of prior guidance at £0.76m per day by the end of Q3 (vs target of £0.75m)
compared to c.£0.5m per business day recorded at the end of H1 2014
· Cash at 30 September 2014 ahead of plan at £78.9m after paying down borrowings of c.£6.5m during Q3 (H1 2014: £85.0m)
· Net funds maintained at H1 2014 level of c.£25m (excluding preference shares of c.£5.7m redeemable between 2018 and 2021)

Noise Induced Hearing Loss ("NIHL") Internal Business Review
· Internal Business Review of NIHL settlement timings being conducted in Q4 due to first few settlements already agreed in Q3 being ahead of plan and at amounts higher than existing accrued income policy
· The results of this review and the potential positive impact to H1 2015 cash flows will be announced on or prior to the year-end pre close statement
· NIHL cases in work-in-progress now total c.44,500 with accrued income recognised on these cases discounted by c.31% in value compared to ABI industry average settlement case values consistent with the Group's aim to drive down cost of claims. With now a further c.30% case number dilution provision being provided for this equates to an effective 61% dilution rate on stringently vetted cases
· Combining this effective dilution rate with a two stage vetting process which rejects 75% of cases (during the initial clinic and two separate hearing tests) leads to Quindell having an overall repudiation rate of c.91% of NIHL cases

Outlook: on track to meet 2014 targets
· Due to improved margins and Q3 cash performance, the Board remains confident of meeting all of its FY2014 KPIs (cash, adjusted EBITDA and adjusted EPS) with these now achievable on revenue of £750m to £800m. We continue to target to deliver on our strategy of:
o Driving down cost of insurance claims and maintaining or improving cash margins which reduces turnover without volume reduction but increasing EBITDA margin
o Controlling growth and optimising cash flow through being selective and limiting business volume
o EBITDA margin range guidance now increased to a range of 40% to 45% (from 35% to 45%)
· Consistent track record of cash collection continues: Over £220m of cash collected in H1 2014 equivalent to c.80% of trade related receivables5 (including accrued income, excluding NIHL cases) collected over each of the last three half year periods, combined with positive Q3 cash performance
o Underpins H2 operating cash flow guidance of c.£30m to £40m, and H1 2015 guidance of up to £100m inflow without significant reliance on NIHL cases, with NIHL offering potential upside in H1 2015
· A number of core business relationships are expected to expand in Q4 and our number of North American telematics prospects are increasing (subject to regulator approval) which would increase connection targets
· Strategic priorities remain: focus on integration, delivery and cash generation
· Reaffirmed commitment to strengthening management and further enhancing corporate governance with additional appointments expected in Q4
· The Board continues to consider and pursue, with advisors where relevant, all options available to it, including share buy backs, North American listing, disposal or demerger of assets or divisions and strategic and/or financial investments by third parties, in order to maximise shareholder value.


Robert Terry, Chairman of Quindell said: "The Board is pleased to announce another successive quarter meeting or exceeding market expectations in all key performance indicators including over £9m of operating cash inflow when the market expected breakeven. Taking in to consideration that volumes are subject to roll out, execution and industry claims frequencies, the Board is confident that the upper end of market expectations can be achieved for the full year for 2014 on Revenues of between £750 to £800 million by repeating the same run rate performance delivered by the business in Q3 and taking into consideration seasonal fluctuations in Q4.

It is clear that in due course, the opportunity to deliver a business with over a billion pounds of revenue, generating significant profits with associated positive cash flows, is within our grasp."

Sounds good.

Canaccord Genuity Buy 162.13 362.00 362.00 Reiterates

the market remains seriously underwhelmed, and though there has been a respectable and general recovery, QPP are now down 2.5p on the day

Daniel Stewart Buy 151.13 154.25 1,005.00 700.00 Reiterates