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

I might buy a new front tyre for my rickshaw!

Oh, steady, don't be too rash! :o)

Some pretty meaty buys going through this afternoon.

looking very blue......

Final results on Monday!

Think they will be gooooooood!!

Preliminary Results

FINANCIAL HIGHLIGHTS:
· Revenue increased by 133% to £380.1 million (2012: £163.0 million)
· Gross sales1 increased by 134% to £398.7 million (2012: £170.2 million)
· Basic EPS of 1.98 pence (2012: 1.00 pence), an increase of 98%
· Adjusted EPS1 of 2.54 pence (2012: 1.45 pence), an increase of 75%

Adjusted EBITDA1
· Adjusted EBITDA increased by 164% to £137.7 million (2012: £52.2m)
· Adjusted EBITDA margin of 36% (2012: 32%) based on Revenue
· Adjusted EBITDA margin of 35% (2012: 31%) based on Gross Sales

Profit Before Tax
· Profit Before Tax increased by 202% to £107.0 million (2012: £35.4 million)
· Adjusted Profit Before Tax1 increased by 172% to £133.7 million (2012: £49.2 million)

Full Listing Preparation progressing to Plan
· Prospectus will be submitted to UKLA by mid April, with listing targeted before the FTSE indices review in early June
· Success of Quindell original strategy validated with margins increasing now operations are fully integrated
· Last two years results now fully validated - no fundamental changes to Accounting Policies or KPI's
· Significant Organic Growth now delivered with market expectations being exceeded for twelve quarters in succession
· Longer term Adjusted EBITDA margin guidance increased to 30%+ from 25%+
· All 2013 KPI's (except Gross Sales, due to success in driving down claims costs) exceeded market expectations

2012 Statutory reported numbers updated to reflect early adoption of IFRS 10 in preparation for Full Listing
· IFRS 10 changes definition of control which has resulted in earlier consolidation of acquired legal services businesses
· Revenue increased by £25.4 million, Profit after tax reduced by £3.7 million and Net assets increased by £21.0 million
· Operating Cash flow lower with earlier consolidation and elimination of pre-acquisition loans but Net Cash increased by £0.8 million

2013 Cash flow and Debtors
· Adjusted operating cash inflow1 of £20.1 million during period of funding significant organic growth (2012: £38.8 million)
· Operating cash inflow2 of £3.2 million (2012: £18.4 million)
· Cash collection across the business according to or ahead of plan in all key areas during 2013 and in Q1 2014
· Cash generation of business model validated during 2013 with over £270 million of cash collected - circa 185% of the value of total trade related receivables (including accrued income) as at 31 December 2012
· Trade receivable days at December 2013 reduced to circa 4.7 months (December 2012: 6.5 months, June 2013: 4.8 months)
· Trade receivables over 12 months reduced by £6m (20%) during 2013 with Collaboration model adoption and by litigating as required
· Cash at December 2013 £199.6 million (2012: £48.1 million); Net Funds of £140.2 million (2012: £17.4 million)

Laurence Moorse, Group Finance Director of Quindell said "2013 has been another year of significant progress for Quindell, having completed the majority of our acquisitions in 2012 creating a market leading technology enabled outsourcing platform for the servicing of claims for the UK insurance industry. It has been a year for delivery of new customer wins and organic growth with only 11% of revenue coming from acquired businesses in the year.

At the same time, the Group's Solutions Division has exceeded all market expectations, and has been developing its market leading position in Connected Car solutions (telematics) providing a platform for significant growth in this emerging global market. Already, almost as much Solutions revenue is derived from North America as is achieved in Europe. The Group's financial strength, and the opportunities that it has to capitalise on its market position leads us to increase our longer term Adjusted EBITDA margin guidance by five percentage points for the second time in six months to 30%+ as the strength of our business model is demonstrated."

OPERATING HIGHLIGHTS:
· Focus on organic growth and earnings enhancing acquisitions throughout 2013
· Three material acquisition groups: Legal, Health and Claims with all core functions integrated
· Integrated management team in place with two divisional Group CEO's,
· Proven record in earning enhancing acquisitions supported by Advisory Board
· Further earning enhancing vertical integration opportunities exist

Services Division
· Significant contract wins announced throughout 2013 driven by regulatory changes c.£450 million per annum additional revenue
· Gross sales increased by 125% year on year to £318.3 million (2012: £140.1m) at an Adjusted EBITDA margin of 29%
· Over 60 independent outsourcing and referral partners providing significant volume to the Group
· Margin continues to increase due to technology enablement and scale of business

Solutions Division
· Software & consultancy revenue increased 168% to £80.4m significantly exceeding market expectations (2012: £30.1m)
· Recognised as joint market leader for European claims by Celent
· Now believed to be clear market leader for European claims technology by substantial margin
· Signed multiple new technology contracts and extensions across key markets and geographies
· Sales to North America of £33.8 million now almost match those to Europe of £39.5 million

Connected Car and Telematics
· Independent study by Ptolemus confirms Quindell/Himex as global leader in all three segments: black box, OBD dongle, smartphone
· Our position in insurance telematics well advanced in the UK with brands representing 80% of 2013 growth using Quindell solutions
· Group already in telematics roll out with three of the top twenty US insurance providers, and pilots conducted with another four

Recent news and Outlook
· Q1 2014 anticipated to deliver over £50m Adjusted EBITDA up 100% on Q1 2013
· All KPIs to date ahead of market expectations being profitability, cash generation and EBITDA margin
· Organic growth represents an increasing percentage of overall strategy
· Over £450 million of outsourcing revenue per annum wins announced in Q1
· Market expectations for technology revenues likely to be significantly exceeded in 2014
· Criteria for acquisition remains but with any shares issued at greater of 20% premium or 50p (2012: 17.5p)
· Progressive dividend policy being adopted with maiden dividend of 0.1 pence announced today

Rob Terry, Founder and Executive Chairman of Quindell said: "Our strategy, set at the time of our listing on AIM in May 2011, needed to be proven to the market, to our industry and to all other stakeholders during 2013. By doing so, Quindell has the potential to be rewarded with a market rating that is more appropriate for the growth and high quality revenue visibility that it provides for any investor. So in summary, 2013 was a year to provide "proof". We delivered on our goal of significantly exceeding market expectations with 168% growth in technology solutions revenue, our highest margin and most cash generative segment.
I am therefore pleased to be able to present today to shareholders, employees and other stakeholders a very positive picture of our strategy being reality, and being able to confirm that as a Group, we have established the scale and substance from which we will be able to grow further on a global basis and create additional significant value for all stakeholders.

Trading in 2014 has also been ahead of plan for all key performance indicators, being profitability, cash generation and EBITDA margin. We are determined to ensure we achieve the optimum valuation for the Company's shareholders, the best and most innovative services and technology for our clients, and a great place to work for our staff. All of this gives me and our team, immense confidence in our ability to grow from this platform and continue the success in 2014 and beyond exceeding current market expectations."

I like Mondays....... and it can only get better.,.

Ok, I still hate Mondays!! what sort of result have you got to have to actually send the sp up!!! down 5% so far on 133% increase of turn over.,.

I wonder which bit of the report the market doesn't like. Operating cashflow?

Should we be surprised? !!!!

Lets see how the morning pans out.

Harry - probably.

Quindell FY pretax profit soars to £107m
StockMarketWire.com
Quindell booked a FY pretax profit of £107m, considerably above the prior year's profit of £36.36m. Revenue was £380.1m, from £163.0m. A progressive dividend policy was adopted with the maiden payment of 0.1p a share announced today.

Group FD Laurence Moorse said 2013 was another year of significant progress for Quindell, having completed the majority of its acquisitions in 2012 creating a market leading technology enabled outsourcing platform for the servicing of claims for the UK insurance industry.

"It has been a year for delivery of new customer wins and organic growth with only 11% of revenue coming from acquired businesses in the year," he said in a statement.

At the same time, Quindell's Solutions Division has exceeded all market expectations, and has been developing its market leading position in Connected Car solutions (telematics) providing a platform for significant growth in this emerging global market. Already, almost as much Solutions revenue is derived from North America as is achieved in Europe.

The Group's financial strength, and the opportunities that it has to capitalise on its market position leads us to increase our longer term Adjusted EBITDA margin guidance by five percentage points for the second time in six months to 30%+ as the strength of our business model is demonstrated."

Canaccord Genuity Buy 36.38 38.75 87.00 87.00 Reiterates

Canaccord note

A 0.1p Divi great increases this should be flying. Is someone purposely holding this back or is it something they are not telling us? Stupid I call it.

As Harry alluded to earlier, the 2013 Cash flow and Debtors section contains some less than positive numbers?

from Insurance Times:


Outsourcer working on a UK deal involving 2 million telematics devices

The debate about whether telematics will break into the mainstream motor insurance market is “long over” according to Quindell founder and executive chairman Rob Terry.

Some commentators expect telematics insurance, which monitors driver performance in a bid to charge more accurate premiums, to be largely confined to the young driver market.

But Terry, speaking to Insurance Times following the release of Quindell’s 2013 results yesterday, insisted that anyone not expecting telematics to have mass-market appeal was “living in the past.”

He said: “We are shipping over 500 devices a day with some of our clients and that is not in the young driver market. That debate should be long over.”

He added: “The biggest deal we are working on in telematics in the UK, which may or may not come to fruition, would see us rolling out over the next 18 months to two years over 2 million telematics devices. That is again not focused on young driver.”

The company plans to launch an Ingenie product for drivers over 25 in the third quarter this year. Terry said: “It won’t be a slow process. It will partner with a major brand that already has access to several million drivers.” He declined to name the company.

Quindell is also pushing telematics into areas beyond motor. Terry said the company is currently handling 1,200 claims a week using video-based home telematics with “one of the largest direct insurers in the UK”.

Quindell offers telematics through its technology solutions division. It also owns 49% of telematics broker Ingenie and has an option to buy the whole company, which is plans to exercise by the end of this year’s first half.

Quindell’s technology solutions unit grew revenue by 168% to £80.4m (2012: £30.1m) in 2013, which Terry said was partly driven by the UK telematics business.





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seen elsewhere:


Alphabeta4
1 Apr'14 - 07:32 - 11317 of 11323 0 0


Morning all. Good Robbie Burns seminar yesterday, no qpp trades but confirmed 5300 per point long on a spread bet account and what looked like 25k out of a 1.25m ISA. Has a personal target of 55-60p.
As always DYOR!
Regards, Alphabeta



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from The Times this morning:


'Move forward with caution'

There has been scepticism on these pages about Quindell — and with good reason. Essentially a technology company that specialises in handling motor and household claims for insurers, it has expanded rapidly, acquiring more than 20 companies in the two and a half years since it came to market.

Many of these deals have been funded by new share issues which have helped to push the market value of Quindell, still quoted on AIM, to more than £2.25 billion.

The worry for shareholders with long memories is that Rob Terry, its founder and chief executive, has done this before. He turned The Innovation Group, which also claimed to have revolutionary technology, into a business with revenues of £1 billion a year, only to watch it crash and burn at the tail end of the dot-com bubble.

Quindell has not helped itself, claiming to have put deals on hold last year, only to embark again on a takeover, albeit tiny. This mixed messaging came hard on the heels of a confusing derivative transaction, the laboured handling of which won the company no friends.

In terms of the pure numbers, though, Quindell is impressive. Yesterday, it reported pre-tax profits of £107 million for the year to the end of December — a 202 per cent leap on the previous year — and a 133 per cent surge in revenues to £380.1 million. The company, which carries out some form of work for eight of the top ten insurance players, said that it was on course to move its listing to the main market in June, when it should become a constituent of the FTSE 250.

On top of that, it declared a maiden dividend which, while modest at just 0.1p, should set the tone for considerably higher progressive payouts in the future.

Mr Terry has a vested interest in this taking place as he holds 11 per cent of the company’s shares and invested his own cash at start-up. The foot has sharply come off the pedal on acquisitions and the emphasis is firmly on organic growth. Indeed, Mr Terry says that just £40 million or so of last year’s revenues were acquisition-related and that Quindell’s business has become extremely cash generative.

Operating cash is expected to reach £200 million next year and Quindell raised its guidance on forecast new business to £2 billion a year in three years’ time.

The shares have more than doubled since last January, though they were off 2½p at 36¼p yesterday on profit taking. If you believe that Mr Terry won’t repeat his mistakes, then take a closer look.

Also from elsewhere :- Quindell’s Terry: Debate about telematics mass-market appeal is ‘long over’

That is the article he posted above skinny. Bit of a disappointment these of late .

Out of this one. Too many ?? and longer time frames.