Updates

Accident Exchange - Heading into insurers back offces

December 2004

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares touched new highs following results for the first half. Turnover was up six-fold to £7.7m and profit before tax sevenfold to £2.46m. Earnings per share were 2.8p. The numbers might look small but that’s due to most of the new vehicles contributing for part period. In fact, Accident Exchange is firing on most metrics. The motor vehicle fleet comprised 555 vehicles at 31 October, up from 250 six months earlier, yet utilisation was high at 89%. The fleet growth was financed mostly on HP agreements which increased from £4.3m to £11.1m during the six months. The fact that Accident Exchange gets to recover the full VAT on a car’s purchase price in the first month means fleet expansion ...

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Accident Exchange (December 2005)

Accident Exchange (July 2005)

Accident Exchange (May 2005)

Accident Exchange - Results due on 1 December (November 2004)

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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