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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REDD's Fundamentals (SAGA)

from the Motlety Fool.......

Redde alert

Of course, the last year has been a very different experience for investors in accident management support company Redde (LSE:REDD). Its shares have soared by 42% during the period, with this rise taking their five year gain to 229%. While investor sentiment may still be rather high, Redde's valuation could cause its share price performance to suffer somewhat.

That's because Redde trades on a P/E ratio of 17.9 and with its bottom line due to rise by 7% in the current year and by a further 6% next year, this equates to a relatively high price-to-earnings-growth (PEG) ratio of 2.8. Although the company may deliver improved profitability in future years, this seems to already be priced-in to a large extent. As such, and with a number of other stocks offering superior risk/reward ratios, Redde's shares may be ones to watch rather than buy at the present time.

Pre Close Statement and anticipated Dividend

Current Trading

The Board of Redde is pleased to announce that, further to its Trading Update made on 28 April 2016, trading for the final quarter ending 30 June 2016 has continued the positive trend shown in the first 9 months of the year. Indications are that the operating results before exceptional costs for the financial year ending 30 June 2016 are likely to slightly exceed market expectations.

Results for the year to 30 June 2016 and anticipated Dividend

On 24 March 2016 the Company paid an interim dividend of 4.50 pence per share in respect of the year ending 30 June 2016.

The Board expects to announce the results for the year ended 30 June 2016 in the early part of September 2016.

Based upon trading to date the Board would expect to announce a further dividend at that time of not less than 5.00 pence per share making total dividends for the year ended 30 June 2016 of not less than 9.50 pence. This would represent an increase of 15.2% on the prior year (8.25 pence excluding the 2015 special dividend).

Looking quite positive.

Possible pennant.

Full Year Results

Results for the Year ended 30 June 2016

Another Year of Strong Growth

Financial headlines

· Turnover £379.2m (2015: £248.7m) - Increase of 53% including LFL increase of 28%
· Adjusted* EBIT of £34.5m (2015: £22.3m) - Increase of 55%
· Adjusted* EBIT of £30.5m excluding acquisitions (2015: £22.3m) - Increase of 37%
· Adjusted* profit before taxation of £34.6m (2015: £22.7m) - Increase of 52%
· Tax charge of £6.0m (2015: tax credit of £1.0m)
· Adjusted* basic EPS of 9.64p (2015: 8.40p) - Increase of 14.8%
· Statutory basic EPS of 8.66p (2015: 8.97p) - Decrease of 3.5%
· Net operating cash inflow from operating activities of £42.1m (2015: £36.8m)
· Net operating cash inflow to EBITDA ratio of 98% (2015: 116%)
· Debtor days further reduced to 94 days from 100 days
· Total cash balances of £34.6m (2015: £27.6m adjusted for £41.0m cash spent on acquisition)
· Net debt of £5.2m (2015: £1.3m adjusted for £41.0m cash spent on acquisition)
· Recommended final dividend for 2016 of 5.15p (2015: 4.25p) - increase of 21.2%
· Total dividends for year of 9.65p (2015: 8.25p excluding special dividend) - Increase of 17.0%

Operational headlines

· 14.3% like for like growth in credit hire cases
· Total number of hire days increased by 15.6%
· 71.7% increase in number of all repair cases (excluding FMG)
· Revenue generating fleet utilisation increased to 83% from 82%
· Increase in number of contracts and range of services
· Protocol case settlement agreements with insurers continuing to grow for mutual benefit
· Growing volumes through a combination of new business wins and existing customer growth
· FMG post acquisition performance exceeding expectations


*Adjusted measures exclude the impact of amortisation of intangibles and exceptional items ('adjustment items') described in Note 6.

Commenting on the Group's results and prospects, Martin Ward, Chief Executive Officer, said:

"This is a strong set of results driven through the delivery of our Growth, Profitability and Sustainability ("GPS") strategy which continues to be our focus. We have seen good levels of LFL growth and the performance of FMG, acquired in October 2015, has been solid. The new period has started well and together with the pipeline of opportunities the board remains confident on the prospects of the Group."

Notice of AGM and Annual Report and Accounts

Redde’s annual general meeting will take place at 10.00 a.m. on Wednesday 26 October 2016 at the offices of Berwin Leighton Paisner LLP, Adelaide House, London Bridge, London, EC4R 9HA.

Copies of the Annual Report and Accounts for the year ended 30 June 2016, the notice of the annual general meeting and the proxy card have today been posted to shareholders.

AGM Statement and Dividend

At today’s AGM, Avril Palmer-Baunack, chairman of Redde plc will be making the following statement regarding dividends and by way of an update on current trading of the business in respect of the period from 1 July to 26 October 2016. Unless otherwise stated, the financial and operational data, where identified, relates to the 3 month period that ended on 30 September 2016.

Dividends

Shareholders are being asked today to approve a final dividend of 5.15 pence per share, amounting to £14.9m which, if approved, will be paid on Thursday 3 November 2016 to those shareholders who were on the register at the close of business on Friday 7 October 2016. This dividend, if approved, will result in total Ordinary Dividends in respect of the year ended 30 June 2016 amounting to 9.65 pence per share and £28.0m in aggregate.

Current Trading

The positive start to the new financial year, which I described in my statement of 31 August 2016, has continued since that date. Sales show an increase over the corresponding period last year reflecting both stronger trading volumes and the effect of the acquisition of FMG on 27 October 2015 last year. As a consequence, trading profits are ahead of our expectations and the corresponding period last year. Early indications are that this trend has continued during October and, with new, additional contracts now in a start up phase, the Board remains confident about the Group’s prospects for the financial year as a whole. The Group is also seeing an increasing level of new business opportunities and continues to be well placed to take advantage of these opportunities to further grow revenue and profits.

Cash generation has continued to be positive and total cash balances were £46.1m at 30 September 2016 compared to £34.6m at 30 June 2016. Fleet financing debt was £40.5m at 30 September 2016 compared to £39.6m at 30 June 2016.

**Ends**

The time to be over the high PE is over for some time now, so directors decided to sell now and BIG...........

DIRECTOR DEALINGS: Redde CEO And CFO Sell Over GBP10 Million In Shares

Accident management, vehicle fleet and legal services company Redde PLC on Thursday said its chief executive and chief financial officer sold a total of GBP10.2 million worth of shares in the company on Wednesday.

Chief Executive Martin Ward sold 4.0 million shares at 170.00 pence per share, a transaction worth GBP6.8 million in total. His holding after the sale was not disclosed.

Chief Financial Officer Stephen Oakley, meanwhile, sold 2.0 million shares at the same price, raising GBP3.4 million. His holding after the sale also was not disclosed.

Trading Update

Current Trading

The Redde Board is pleased to announce that the Group’s strong start to the year that we referred to in our announcements on 1 September and 27 October 2016 has continued through into December.

Sales continue to show an increase over the corresponding period last year reflecting both organic growth and the effect of the acquisition of FMG on 27 October 2015. As a consequence, trading profits remain ahead of our own expectations and the corresponding period last year.

Results for the 6 months to 31 December 2016 and Interim Dividend

The Board expects to announce the results for the 6 months to 31 December 2016 at the end of February 2017.

Based upon trading to date the Board would expect to declare at that time an interim dividend of not less than 4.90 pence per share for the year ending 30 June 2017. This would compare to an interim dividend of 4.50 pence in respect of the financial year ended 30 June 2016 and would represent an increase of 8.9%.

Bullish engulfing candle.

Interim Results

Controlled Expansion Fuels Another Strong Performance

Financial headlines
· Turnover £227.1m (2015: £165.2m) - Increase of 37.5%
· Adjusted* EBIT of £19.8m (2015: £17.1m) - Increase of 15.5%
· Adjusted* profit before tax of £19.7m (2015: £17.3m) - Increase of 13.8%
· Statutory profit before tax of £17.5m (2015: £16.0m) - Increase of 9.1%
· Net operating cash flow to EBITDA 89% (2015: 91%)
· Debtor days 90 days (2015: 95 days)
· Total cash balances £33.6m (2015: £31.6m)
· Fleet and lease debt £47.1m (2015: £40.7m) - funding expanded fleet
· Net debt of £13.5m (2015: £9.1m)
· Adjusted* basic EPS 5.24 pence (2015: 4.89 pence) - Increase of 7.2%
· Statutory basic EPS 4.58 pence (2015: 4.49 pence) - Increase of 2.0%
· Interim dividend 5.00 pence (2015: 4.50 pence) - Increase of 11.1%

Operational headlines
· 13.9% like for like growth in number of credit hire cases
· Total number of hire days increased by 13.5%
· 69.9% increase in number of all repair cases
· Period end fleet increased to 8,690 (2015: 7,263) - increase of 19.6% to meet increasing demand
· Revenue generating fleet utilisation maintained above 80% during fleet build programme
· Increase in number of contracts and range of services
· Sales, marketing, operational and IT infrastructure investment increased

* Adjusted measures exclude the impact of the amortisation of intangibles, share based payments and exceptional items ("adjusted items") described in Note 5.


Commenting on the Group's results and prospects, Martin Ward, Chief Executive Officer said:

"The strong sales and EBIT increase over the comparable reinforces our position as we deliver our "GPS" (Growth, Profitability and Sustainability) strategy. We continue to improve and innovate our services and make investments for future organic growth with further benefits still to be realised. Strong cash generation continues to support a good dividend yield and with significant balance sheet strength corporate growth opportunities continue to be explored. The outlook for the financial year remains positive."

Trading Statement

The Board of Redde (‘Group') is pleased to announce that the positive outlook reported in the interim results announcement on 28 February was amply justified, with the increased trading volumes recorded in the first half year being sustained throughout the third quarter. Indications are that this trend has been maintained during April and the Board remains confident about the Group’s prospects for the financial year as a whole.

Woodford Investment Management Ltd > 24%

Pre Close Statement

Current Trading

The Board of Redde is pleased to announce that, further to its Trading Update made on 27 April 2017, trading for the final quarter ending 30 June 2017 has continued the positive trend shown in the first 9 months of the year. Indications are that the adjusted operating profits for the financial year to 30 June 2017 are expected to be in line with market expectations.

The Board expects to announce the results for the year ended 30 June 2017 in the early part of September 2017.

AGM Statement and Dividend

At today’s AGM, Avril Palmer-Baunack, chairman of Redde plc will be making the following statement regarding dividends and by way of an update on current trading of the business in respect of the period from 1 July to 24 October 2017. Unless otherwise stated, the financial and operational data, where identified, relates to the 3 month period that ended on 30 September 2017.

Dividends

Shareholders are being asked today to approve a final dividend of 5.60 pence per share, amounting to £17.0m which, if approved, will be paid on Thursday 2 November 2017 to those shareholders who were on the register at the close of business on Friday 6 October 2017. This dividend, if approved, will result in total Ordinary Dividends in respect of the year ended 30 June 2017 amounting to 10.60 pence per share totalling £32.2m in aggregate and will result in the payment of our twelfth consecutive dividend since June 2013. Payments since that date will amount to £105m representing 38p per share.

Current Trading

The positive start to the new financial year, which I described in my statement of 6 September 2017, has continued since that date. Sales show an increase over the corresponding period last year reflecting continued growth in trading volumes and, as a consequence, trading profits are ahead of the corresponding period last year. Early indications are that this trend has continued during October and the Board remains confident about the Group’s prospects for the financial year as a whole.

Trading Update – Continued Growth in the First Half

Current Trading

The Redde Board is pleased to announce that the Group’s positive start to the year that we referred to in our full year results announcement on 7 September and AGM statement on 25 October 2017 has continued through into December.

Sales continue to show an increase over the corresponding period last year reflecting continued growth in trading volumes and as a consequence, trading profits are ahead of the corresponding period last year.

Results for the 6 months to 31 December 2017

The Board expects to announce the results for the 6 months to 31 December 2017 on Thursday 1 March 2018.

This share loves a trend line....

Interim Results

Interim Results for the six months ended 31 December 2017


Double Digit Growth


Financial headlines

· Turnover £253.3m (2016: £227.1m) - Increase of 11.5%

· Adjusted* EBIT of £22.0m (2016: £19.8m) - Increase of 11.2%

· Adjusted* profit before tax of £21.9m (2016: £19.7m) - Increase of 11.2%

· Statutory profit before tax of £19.9m (2016: £17.5m) - Increase of 13.6%

· Net operating cash flow/EBITDA 47% (2016: 89%) - ahead of management expectations following new contract

· Debtor days 97 days (2016: 90 days)

· Total cash balances £24.4m (2016: £33.6m) - after funding share buybacks and new contract

· Fleet and lease debt £46.9m (2016: £47.1m)

· Net debt of £22.5m (2016: £13.5m)

· Adjusted* basic EPS 6.12 pence (2016: 5.24 pence) - Increase of 16.8%

· Statutory basic EPS 5.65 pence (2016: 4.58 pence) - Increase of 23.4%

· Interim dividend 5.50 pence (2016: 5.00 pence) - Increase of 10.0%

Operational headlines

· 24.8% growth in number of credit hire cases

· Total number of hire days increased by 19.5%

· 0.5% increase in total number of repair cases

· Period end fleet increased to 9,958 (2016: 8,690) - increase of 14.6% to meet increasing demand

· Revenue generating fleet utilisation maintained above 80% target

* Adjusted measures exclude the impact of the amortisation of intangibles and share based payments ("adjustment items") described in Note 5.

Commenting on the Group's results and prospects, Martin Ward, Chief Executive Officer said:

"Our focussed GPSii strategy (Growth, Profitability and Sustainability) has continued to deliver strong results, with half year revenue, adjusted operating profits and EPS all seeing double digit growth. We continue to seek attractive opportunities to broaden the scale and scope of our services in ongoing and related markets at the right investment value.

The outlook for the full year remains strong, with trading in January and February supporting the board's confidence for the full year. We are delighted to be paying a further £16.7m of dividend (5.50p per share) to our shareholders in March 2018 taking our cumulative returns to shareholders to £121.6m (43.50p per share) since February 2013."

Trading Statement

The Board of Redde (‘Group') is pleased to confirm that the strong outlook reported in the interim results announcement on 1 March can be reconfirmed, with the increased underlying trading volumes recorded in the first half year being sustained throughout the third quarter. Indications are that this trend is being maintained during April and the Board remains confident about the Group’s prospects for the financial year as a whole.