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

And now in auction -10.3%.

Gotham City Research have put the boot in.

gotta go bottom fishing now.,.

Quindell PLC: A Country Club Built On Quicksand
Gotham City Research initiates coverage on Quindell PLC, with a price target of 3p/share (92% downside)

SUMMARY

42%-80% of Quindell’s profits are suspect, as we are unable to reconcile the whole with the sum of the parts.
Quindell was little more than a country club until 2008/2009, yet QPP somehow began reporting Microsoft/Google-esque profit margins in 2010/2011.
26%-43% of Quindell’s 2009 and 2010 revenues came from Clickus4.com, a subsidiary owned by CEO Robert Terry.
41% of Quindell’s 2011 revenues came from an undisclosed related party (controlled by a QPP executive).
10+ acquisitions lack economic substance. Several of the acquired companies are little more than paper companies.
QPP’s largest telematics customer is itself (via subsidiaries Himex & Ingenie), accounting for 61% of 2013 revenue.
99% & 80% of Himex’s 2012 and 2013 balance sheets are seriously deficient (Himex is QPP’s largest acquisition).
Former executives allege Himex/Navseeker lied to them about its financial state and that in effect they were operating a Ponzi-style scheme.
2011-2013 accounts receivable are between 86%-231% of revenue, while deferred revenue only 1%-2% of revenue.
Nearly all of CEO Terry’s £11 mm personal investment into Quiindell was used to build Quindell the country club.
No free cash flow and negative operating cash flow.
Quindell fails to explain how its personal injury business complies with Lord Jackson’s reforms & referral fee ban.
The Chairman of the Transport Select Committee, Louise Ellman recently initiated a probe to determine whether ABSs are used to side-step the Jackson reforms.
3 auditors in 3 years, since 2011.
Quindell’s shares are worth no more than 3p/share.
QPP shares would qualify for a de-listing if the shares were trading in US markets.
When asked, Quindell refuses to answer simple questions about its business.

I'd like to buy some for 3p !!

Looks like an op. to buy. But why does it go down like this? I would like to know.

Auction again -21.1%

Weird looks like a problem of some sort ?

Oh dear.

According to Gotham they are mitzy.
2517

Very much..

Here's the article if you haven't seen it Quindell PLC: A Country Club Built On Quicksand

Reminds me of Batman and Robbin'!

That's a damning report, I recollect an article that R. Terry was involved in something similar a few years ago, can't remember the details.
2517

21p and still falling.
This could be 10p the way its going.

Thats me out ,still managed a profit ,wait to see what comes out of the wood work ,something very fishy here.

2517GEORGE ... Innovation Group ?

Strange on the back of last week's trading annoucement but we've been here before. We need the directors mopping up this surplus stock and I wouldn't be surprised to see a statement before too long with more numbers.

Quindell (LON:QPP) lost more than half its value as short-sellers had a field day on the back of a blog that called up to 80% of the insurance outsourcer’s profits “suspect”.
In a note called ‘Quindell PLC: A Country Club Built On Quicksand’, Gotham City Research claims it cannot work out where around 80% of the group’s reported earnings from 2012 come from.
It says Quindell was little more than a country club until 2008 and “yet somehow began reporting Microsoft/Google-esque profit margins in 2010/11”.
It highlighted that 26-43% of Quindell’s 2009 and 2010 revenues came from clickus4.com, a subsidiary owned by chief executive Rob Terry.
The blog also alleges that nearly all of Terry’s £11mln investment in the business was used to build the country club, not the insurance or software business currently in operation.
In a lengthy disclaimer, Gotham City Research, which is not registered as an investment adviser, warns readers that it “stands to profit in the event the issuer’s stock declines”.
A research note on EBIX caused a similar reaction in June last year, sending the Nasdaq-listed stock down more than 50%. Its shares are yet to recover to the levels seen prior to the note.
Quindell’s own company website crashed as worried shareholders flooded to the site for more information.
The shares crashed to below 20p at one point before recovering to 26.5p, a fall of 32%.
Gotham City has a 3p target price on the stock.