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)

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%

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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?

Trading Update

Continued growth leads to current trading exceedingexpectations

The Board of Redde plc (`Company' or `Group') is pleased to announce that the
encouraging start to the second half of the Company's financial year has
continued with strong trading volumes for the third quarter of the financial
year leading to operating profits exceeding the Board's expectations.

Cash collections during the period since 31 December 2014 have continued to be
strong and, as a consequence, statutory debtor days at 31 March 2015 were
reduced to a new record 104 days compared to 108 days at 31 December 2014 and
116 days at 31 March 2014, and further reductions are expected.

Total cash balances at 31 March 2015 were £62.8 million compared to £63.2
million at 31 December 2014 and £48.8 million at 31 March 2014. Net cash
balances (net of fleet financing) were £36.0 million at 31 March 2015 compared
to £38.1 million at 31 December 2014 and £32.9 million at 31 March 2014. The
Company has also paid an interim dividend of 4.00 pence per share totalling £
11.3 million in the three months to 31 March 2015.

Woodford Investment > 16%

ST of IC today - I have raised my fair value target price to 140p, and continue to rate the shares a buy on a bid-offer spread of 123.5p to 124p.

Issue of Deferred Consideration Shares

Redde announces that it intends to issue and allot up to 4,332,646 ordinary
shares of 0.1 pence each (the "New Ordinary Shares") at a price of £1.18989 per
share to satisfy the final deferred consideration payment relating to the
acquisition of the NewLaw group of companies in February 2014.

more....

First peep over 125p.

Woodford Investment Management up to 18%

Issue of Deferred Consideration Shares