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.

Company Website

Investor Relations

Recent Broker notes

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Recent Market news

REDD's Fundamentals (SAGA)

Total Voting Rights - issue of B shares pursuant to LTIP

N+1 Singer Buy 57.75 8.70 87.00 Retains

A continued climb both sides of consolidation.

Holding up well on a dismal day.

Pre-close Statement and Appointment of Joint Broker

Current Trading

Further to our announcement on 1 May 2014, trading results for the final
quarter continued the positive trend shown in the first 9 months of the year
and indications are that the operating results before exceptional costs for the
financial year ended 30 June 2014 are likely to exceed the upper end of market
expectations.

Cash generation has continued to be positive and debtor days within the
historical Helphire operations were at a new record low, having been reduced to
122 days at 31 May 2014. Including the NewLaw group of companies the combined
statutory debtor days of the Group at 31 May 2014 were 112 days based upon the
past 12 months turnover of the combined group. Further reductions are expected
as the effects of our protocol agreements with insurers extend further through
our business.

Net cash balances (net of fleet financing) were approximately £37.9 million at
31 May 2014 (£13.1 million excluding the residual net proceeds of the December
2013 share placing) compared to £33.0 million at 31 March 2014 (£8.7 million
excluding the residual net proceeds of the December 2013 share placing) and £
1.1 million at 30 June 2013. The Group has also paid net dividends totalling £
8.5 million in the year since 30 June 2013.

Appointment of Joint Broker

The Group is pleased to announce the appointment of N+1 Singer Advisory LLP as
Joint Stockbroker to the Group with effect from today. Cenkos Securities plc
continues as Nominated Adviser and Joint Stockbroker to the Group.

Woodford Investment Management LLP > 11%

Issue of Deferred Consideration Shares


The Company announces that an application has been made to the London Stock
Exchange for the admission of 8,425,860 ordinary shares of 0.1 pence each (the
"New Ordinary Shares") to trading on AIM. The New Ordinary Shares will be
issued at a price of 60.9 pence per share to satisfy the first tranche of the
Company's deferred consideration obligations relating to the acquisition of the
New Law group of companies as announced by the Company on 27 February 2014,
subject to admission of the New Ordinary Shares to trading on AIM which is
expected to occur on 04 August 2014 ("Admission").

The New Ordinary Shares, when issued, will rank pari passu with the existing
ordinary shares of the Company.

A total of 6,893,196 of the New Ordinary Shares to be issued are subject to a
lock in arrangement under normal terms for a period of 12 months from the date
of Admission and are also subject to the usual orderly marketing arrangements
for a further 12 months thereafter. The remaining 1,532,664 New Ordinary Shares
are subject to the usual orderly marketing arrangements for 24 months from the
date of Admission.

Following Admission, the Company shall have 281,089,600 ordinary shares of 0.1
pence each in issue, each with voting rights, which figure may be used by
shareholders in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or a
change to their interest in, the share capital of the Company under the
Financial Conduct Authority's Disclosure and Transparency Rules. No shares are
held in treasury.

One to Keep an EYE

Looks ready for the turning after last Friday large volume
Higher lows on the candlestick chart, now needs a higher highs aswell

slowly moving higher, though it could be a bit better, the market id down so no point on a complaint

last friday large volume comes as RNS today as Henderson gets almost 7.15M extra in the books......

Full name of person(s) subject to Henderson Global Investors

Date of the transaction and date on 11 August 2014
which the threshold is crossed or
reached:

6. Date on which issuer notified: 12 August 2014

7. Threshold(s) that is/are crossed or reached: Above 10%

before 23,575,153
now 30,752,736 10.94%

Notice of Results

Redde plc, one of the UK's leading providers of accident management and legal
services to insurance companies, insurance brokers, prestige motor dealerships
and large national fleets will announce results for the year ended 30th June
2014 on Thursday 4th September 2014.

Final results tomorrow.

Full Year Results

Highlights

· Adjusted* operating profit of £11.6m (2013: £8.0m)
· Adjusted* profit before taxation of £11.9m (2013: £4.3m)
· Adjusted* basic EPS of 7.47p (2013: 12.54p)
· Recommended final dividend for 2014 of 3.50 pence and payable on 06 November 2014
· Total dividends for year of 6.85 pence (2013: 1.65 pence)
· Net cash inflow from operating activities of £24.8m (2013: £31.2m)
· Net cash inflow to EBITDA ratio of 153% (2013: 198%)
· Statutory debtor days further reduced to 108 days from 126 days
· Total cash balances of £58.3m (2013: £21.2m)
· Net cash of £41.6m (2013: £1.1m)
· Open hire case count reduced by a further 7,000 cases to 32,000 cases
· Growing pipeline of business at recent acquisition NewLaw
· Revenue generating fleet utilisation improved to 82.1% (2013: 80.7%)
· Protocol case settlement agreements with insurers continuing to grow for mutual benefit

*Adjusted measures exclude the impact of those items described as exceptional in Note 6.

With a bit more volume this looks like a possible breakaway gap.

There's the volume.

AGM Statement

At today's AGM, Avril Palmer-Baunack, chairman of Redde plc will be making the
following statement by way of an update on current trading of the business in
respect of the period from 1 July to 30 October 2014. Unless otherwise stated,
the financial and operational data, where identified, relates to the 3 month
period that ended on 30 September 2014.

Current Trading

As previously announced in my statement of 3 September 2014, the Group's new
financial year has begun well and this trend has continued. NewLaw, our legal
services business is trading in line with our expectations. Sales in the
accident management businesses show an increase over the corresponding period
last year reflecting stronger trading volumes. 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 the Board
remains confident about the Group's prospects for the financial year as a
whole. We are seeing an increasing level of new business opportunities across
the Group and because our new business model is more capital-efficient than in
the past we are able to take advantage of opportunities to grow revenue and
profits with no undue increase in working capital.

Cash generation has continued to be positive and, in line with seasonal trends,
debtor days at 30 September 2014 were unchanged from 30 June 2014 at 108 days.
Last year's debtor days at 30 September 2013 were 126 days which were unchanged
from 30 June 2013. Net cash was £48.6 million at 30 September 2014 and compares
to net cash of £41.6 million at 30 June 2014. Total cash balances were £66.2m
at 30 September 2014.

Dividends

Shareholders are being asked today to approve a final dividend of 3.50 pence
per share and amounting to £9.8m, which if approved will be paid on Thursday 6
November 2014 to those shareholders on the register at the close of business on
Friday 17 October 2014.

I am pleased to note that dividends in respect of the year ended 30 June 2014
amount to 6.85 pence per share and £15.7 million in aggregate.

As previously announced, the Group intends to return to a more normal dividend
calendar with any interim dividend for the year to 30 June 2015 being declared
in February 2015 and paid in March 2015.

Ends

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%