Formerly HelpHire - Old thread

Welcome to Redde plc the market leading support services group specialising in accident management support, legal services, fleet management and policy fulfilment services.
With total annual revenues in excess of £200m and over 1,500 employees nationwide, our businesses are renowned for their high quality service delivery.

Our operating businesses deliver services to the policyholders and customers of many of the UK's leading brand insurance companies, brokers, intermediaries and automotive dealerships as well as supporting the risk and claims management of a growing number of self insured large corporate fleets.

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Investor Relations

Recent Broker notes

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Recent Market news

REDD's Fundamentals (SAGA)

Trading Update

Current Trading

As the Group approaches the end of the first half of its financial year, 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 strong trading volumes supporting a significant
increase on our expectations. Trading profits for the six months to 31 December
2014 are now expected to be materially ahead of our earlier expectations and
significantly ahead of the corresponding period last year.

Cash generation has continued to be strong and after payment of the final
dividend in respect of 2014 on 6 November 2014, which amounted to £9.8 million,
net cash was £39.7 million at 30 November 2014. This compares to net cash of
£41.6 million at 30 June 2014. Total cash balances were £60.9 million at 30
November 2014 compared to £58.3 million at 30 June 2014, and represent an
increase for the 5 months of £12.4 million (adjusting for the final dividend
paid of £9.8 million).

Results for the 6 months to 31 December 2014 and Interim Dividend

The Board expects to announce the results for the 6 months to 31 December 2014
at the end of February 2015.

Based upon trading to date the Board would expect to declare an interim
dividend at that time of not less than 3.50 pence per share. This would compare
to 3.35 pence per share paid by way of 3 interim dividends in respect of the
financial year ended 30 June 2014.

As previously announced, the Group is currently pursuing a full distribution
policy and the amount of any final dividend (and therefore the dividend for the
year as a whole) will be dependent upon the level of total profits earned in
the financial year ending 30 June 2015.

Commenting on the announcement, Martin Ward, Chief Executive Officer said:

"The benefits of our strategy for growth, sustainable profits and cash are
being demonstrated in our strong trading results. This goes to support a
significant dividend return to our shareholders. We see further opportunity to
grow the business both organically and through M&A investment. Based on current
trading we remain confident about our outlook."

Ends

New high @ 89p but on low volume.

Invesco > 25%

Invesco > 26%

Plenty of volume again today.

Woodford Investment Management LLP > 12%

A quid beckons!

Invesco Limited > 27%

Moore Europe Capital Management, LLP < 3%

Invesco > 28%

Interim results on Thursday 26th February 2015.

Interim Results

Interim Results for the six months ended 31 December 2014

Redde - Growth Accelerates
Financial headlines
· Turnover £122.0m (2013: £92.3m) - Increase of 32%
· Adjusted* operating profit of £11.2m (2013: £4.2m) - Increase of 166%
· Adjusted* profit before tax of £11.5m (2013: £4.2m) - Increase of 172%
· Net operating cash flow to EBITDA 114% (2013: 78%)
· Debtor days 108 days (2013: 135 days)
· Total cash balances of £63.2m (2013: £75.7m)
· Total working capital cash balances £38.4m (2013: £18.2m)
· Net cash of £38.1m (2013: £62.0m)
· Net working capital cash balances £13.3m (2013: 4.4m)
· Shareholders funds £149.3m (2013: £136.6m)
· Adjusted* basic EPS 4.30 pence (2013: 3.07 pence) - Increase of 39.7%
· Statutory basic EPS 4.14 pence (2013: 3.40 pence) - Increase of 21.5%
· Interim dividend 4.00 pence (2013: 3 interim dividends totalling 3.35 pence)- Increase of 19.40%
· Total dividends of 12.5p per share in two years since placing in March 2013 at 25p per share

Operational headlines
· 3.9% growth in Credit hire cases
· Total hire days increased by 1.3%
· 7.9% growth in Repair cases
· Open case count reduced by 10%
· Cases >120 days reduced by 19%
· Revenue generating fleet utilisation 81.0% (2013: 81.6%)
· Protocol case settlement with insurers continuing to grow for mutual benefit
· NewLaw acquisition performing to expectations

Aviva 15% -> 14%

Woodford > 14%

.

I'm a 100% up in 11 months on these - not bad for a relatively boring share.

Trying 120 again.

Invesco > 29%

A new high today @122p.

First gap closed?