Anexo Group PLC Trading Update and Notice of Results (0643B)
28 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMANX
RNS Number : 0643B
Anexo Group PLC
28 January 2020
For immediate release 28 January 2020
Anexo Group plc
('Anexo' or the 'Group')
FY-2019 Trading Update
Notice of Results
Anexo Group plc (AIM: ANX), the specialist integrated credit
hire and legal services provider, today provides the following
Trading Update in respect of the year ended 31 December 2019
('FY-2019').
FY-2019 was a year of strong progress for Anexo. The Board is
therefore pleased to announce that adjusted* profit before tax will
be in line with current market expectations. This reflects the
continued expansion of the Group's legal services division and the
consequent increase in cash collection.
Anexo has continued its strategy of keeping the number of
vehicles in its credit hire division (EDGE) at a consistent level.
The Group has at the same time maintained its policy of increasing
the number of litigators within its legal division (Bond Turner),
thereby driving increased case settlements and cash collection
relative to investment in new cases. The Group is pleased to
announce that monthly cash collections during H2-2019 have
consistently exceeded the levels achieved in H1-2019.
The Bolton office of Bond Turner continues to recruit high
quality litigators and support staff and in the second half of 2019
doubled the size of its office space to almost 20,000 sq.ft.
Following the success of the Bolton office, the Group is pleased
to announce that Bond Turner expects to open an office in Leeds
during Q1-2020. The Leeds office will initially be staffed by
existing senior employees relocating from Bolton. This new regional
office will offer excellent opportunities for the recruitment of
further staff and the Group expects its headcount within Bond
Turner to continue to expand.
Notice of Final Results
The Group will be announcing its Final Results for FY-2019 on
Tuesday, 21 April 2020. An analyst briefing will be held on the day
of results at 9.30 a.m. at the offices of Buchanan, 107 Cheapside,
London EC2V 6DN.
- Ends -
*Adjusted for share based payments
For further enquiries:
Anexo Group plc +44 (0) 151 227 3008
www.anexo-group.com
Alan Sellers, Executive Chairman
Mark Bringloe, Chief Financial Officer
Nick Dashwood Brown, Head of Investor
Relations
Arden Partners plc
(Nominated Adviser and Broker)
John Llewellyn-Lloyd / Benjamin Cryer +44 (0) 20 7614 5900
(Corporate) www.arden-partners.co.uk
Fraser Marshall (Equity sales)
Buchanan
(Financial Communications)
Henry Harrison-Topham / Steph Watson +44 (0) 20 7466 5000
Anexo@buchanan.uk.com
Notes to Editors:
Anexo is a specialist integrated credit hire and legal services
provider. The Group has created a unique business model by
combining a direct capture Credit Hire business with a wholly owned
Legal Services firm. The integrated business targets the
impecunious not at fault motorist, referring to those who do not
have the financial means or access to a replacement vehicle.
Through its dedicated Credit Hire sales team and network of
1,100 plus active referrers around the UK, Anexo provides customers
with an end-to-end service including the provision of Credit Hire
vehicles, assistance with repair and recovery, and claims
management services. The Group's Legal Services division, Bond
Turner, provides the legal support to maximise the recovery of
costs through settlement or court action as well as the processing
of any associated personal injury claim.
The Group was admitted to trading on AIM in June 2018 with the
ticker ANX.
For additional information please visit: www.anexo-group.com
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END
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