Nationwide Accident Repair Srvs PLC Trading update (8402B)
12 Janeiro 2015 - 5:00AM
UK Regulatory
TIDMNARS
RNS Number : 8402B
Nationwide Accident Repair Srvs PLC
12 January 2015
NARS
NATIONWIDE ACCIDENT REPAIR SERVICES PLC
("Nationwide" or "the Group")
Trading Update
Nationwide, the largest dedicated provider of automotive crash
repair services in the UK, is providing the following update on
trading for the financial year ended 31 December 2014 ahead of full
year results which are expected to be announced in mid-April.
The Board is pleased to report a good finish to the year.
Underlying profit before tax for the year to 31 December 2014 is
expected to be ahead of management expectations, with Nationwide's
net cash position significantly ahead of forecasts. Unaudited Group
revenue for the year is anticipated to be approximately GBP184.0m
(2013: GBP156.6m) and unaudited net cash at 31 December 2014 was
approximately GBP1.5m (31 December 2013: GBP6.3m). This is after
net outflows of more than GBP13.0m relating to the acquisitions of
Howard Basford and Gladwins in the year.
These encouraging results reflect the combined benefits of
increased volumes, improved operational efficiencies and economies
of scale. Recent acquisitions have all performed in line with
management expectations and the major contracts signed in 2014
contributed to the Group's performance in the second half of the
year.
Enquiries:
Nationwide Michael Wilmshurst, T: 01993
Accident Repair Chief Executive 701 720
Services plc David Pugh, Group
Finance Director
KTZ Communications Katie Tzouliadis T: 020
/ Deborah Walter 3178 6378
Westhouse Securities Antonio Bossi / T: 020
Henry Willcocks 7601 6100
About Nationwide Accident Repair Services plc
Nationwide provides automotive crash repair and accident
administration services to the UK insurance industry, fleet
operators and retail customers and is the largest dedicated
provider of accident repair services in the UK.
The Group operates a national network of accident repair centres
across England, Scotland and Wales and has dedicated mobile repair
fleets which repair light damage and automotive glass. Other
services include accident administration, courtesy cars and salvage
management. All Nationwide's services are fully integrated and
unified on a single IT platform, enabling the Group to provide
market-leading standards.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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