Updates

Quindell Portfolio

October 2012

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.

he shares spiked over 10p after Quindell reported its H1 results to end June. Sharewatch subscribers would have politely yawned as we had recommended the shares several times around the 6p level. Adjusting for acquisition and integration costs, pre-tax profit was Â£14m on sales of Â£45.6m. Eps was 0.46p. Net debt at the end of June was Â£10.9m. QPP's business split across the two segments. The bigger of the two was technology-enabled outsourcing for the insurance sector. During H1 this generated sales of Â£34.4m with operating margins of 20%.The latter is where QPP has focused its acquisition strategy in the past 18 months with the purchases of various parts of the insurance supply chain: Ai Claims (motor claims outso ...

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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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