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)

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.

Current Trading

The Board of Redde is pleased to announce that, further to its Trading Update made on 26 April 2018, trading in the final quarter ending 30 June 2018 has continued the positive trend shown in the first 9 months of the year. Consequently the Board remains confident of the final outcome for the year as a whole.

The Board expects to announce the results for the year ended 30 June 2018 in the early part of September 2018.

Heading back to the top of the range @180ish? Trading update in the next couple of weeks.

From September 6th - Final Results

Results for the year ended 30 June 2018

Further Significant Year on Year Growth in Revenues, Earnings and Dividends

Redde, a leading provider of mobility, incident management solutions and legal services to motorists, car dealerships, fleet owners and the insurance industry announces full year results:

Financial headlines

· Turnover £527.0m (2017: £472.3m) - Increase of 11.6%

· Adjusted* EBIT of £46.2m (2017: £40.2m) - Increase of 15.0%

· Adjusted* profit before taxation of £46.0m (2017: £40.0m) - Increase of 15.0%

· Statutory profit before taxation of £38.8m (2017: £31.8m) - Increase of 22.2%

· Net operating cash inflow to EBITDA ratio of 72% (2017: 91%)

· Debtor days 105 (2017: 91 days) - on increased sales and insurer mix

· Lease financing debt £39.2m (2017: £46.0m)

· Total cash balances of £30.7m (2017: £36.3m)

· Net debt of £8.5m (2017: £9.7m)

· Adjusted* basic EPS of 13.27p (2017: 11.26p) - Increase of 17.8%

· Statutory basic EPS of 11.36p (2017: 8.93p) - increase of 27.2%

· Recommended final dividend for 2018 of 6.15p (2017: 5.60p) - increase of 9.8%

· Total dividends for year of 11.65p (2017: 10.60p) - Increase of 9.9%

Operational headlines

· 19.3% growth in credit hire cases

· Total number of hire days increased by 23.6%

· 3.4% increase in number of repair cases

· Period end fleet increased to 9,741 (2017: 8,371) - Increase of 16.4% to meet increasing demand

· Increased demand saw revenue generating fleet utilisation increased to 82.9% (2017: 81.5%)

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

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

"This has been another year of significant growth delivering increased EPS. The proposed payment of the Group's 14th consecutive dividend, together with dividends paid since June 2013, now amount to £140.3m. The Group continues to generate quality, sustainable earnings by serving a large and growing number of businesses and fulfilling hundreds of thousands of physical transactions each year to businesses and consumers.

In support of this activity, the Group has invested in further digital development, upgraded IT systems and, to meet future demands, a larger contact centre in Huddersfield. Under our GPSii strategy the Group has developed on many fronts and possesses several core capabilities which expand the options for further growth.

The Group continues to seek acquisition opportunities that meet the Group's stringent investment criteria. I would like to acknowledge the effort of all the Redde people who make these results happen and to say "well done" to them all."

07 Sep 18 JP Morgan Cazenove Overweight 189.50 197.00 207.00 Reiterates

Notice of AGM and Annual Report and Accounts

Redde’s annual general meeting will take place at 10.00 a.m. on Wednesday 24 October 2018 at the offices of Bryan Cave Leighton Paisner LLP, Adelaide House, London Bridge, London, EC4R 9HA.

Toying with £2.

Aviva plc & its subsidiaries 5.98% --> 4.81%

AGM Statement

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 23 October 2018. Unless otherwise stated, the financial and operational data, where identified, relates to the 3 month period that ended on 30 September 2018.

Dividends

Shareholders are being asked today to approve a final dividend of 6.15 pence per share, amounting to £18.8m which, if approved, will be paid on Thursday 8 November 2018 to those shareholders who were on the register at the close of business on Friday 5 October 2018. This dividend, if approved, will result in total Ordinary Dividends in respect of the year ended 30 June 2018 amounting to 11.65 pence per share totalling £35.5m in aggregate and will result in the payment of our fourteenth consecutive dividend since June 2013. Payments since that date will amount to £140.4m representing 49.65p per share.

Current Trading

The positive start to the new financial year, which I described in my statement of 5 September 2018, has continued since that date. Sales show an increase over the corresponding period last year reflecting 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 continues to regard the outlook for the financial year as positive.