AI Claims Solutions Share Discussion Threads

[alexacj] 19/7/2005 16:27

Good luck......the finals are now required for a complete re-rating IMHO.....this RNS at least bodes well for a decent set!

[wiganer] 19/7/2005 16:22

Have finally bought into these, having watched them all the way down from high 30s. Unfortunately failed to pile in at what now appear to be absurd sub-20p levels. Finally got in at 26.8, today's RNS tipping my hand.

Ah well, better late than never...

[langland] 19/7/2005 16:16

EVO have stated previously that once they get themselves sorted out they are capable of 3mn PBT per annum.

[scburbs] 19/7/2005 16:15

"As announced on 22 February, AI has decided not to pay an interim dividend.
Dividend policy will be reviewed at the full year end and the Board is confident that AI will return to the dividend list at that point."

Looks good for a final dividend given the expectation was that there would be one and trading has exceeded expectations.

[scburbs] 19/7/2005 16:11

The good thing about this statement is not only have they said that trading is good, but they have financing facilities in place to deal with the resultant growth. This reduces the chances of a equity issue and means that eps could quickly soar as the profits come through over the next couple of years.

[elmfield] 19/7/2005 14:28

well done those that kept the faith and added while we were down.

[scotswhaehae] 19/7/2005 13:23

As I said...35p initial target!!

Luvly jubbly!

[scburbs] 19/7/2005 10:36

The news is out, looking good from here. Next stop 30p.

[scotswhaehae] 19/7/2005 10:36

Just what we wanted to hear....


35p initial target


Good luck all.

[trixter] 30/6/2005 11:57

If you look at the past history of ACS, they do not tend to announce contract wins as they come in. We will get to know in the form of a trading update or at full year results IMHO.

[alexacj] 30/6/2005 11:57

Not wanting to disagree too much....all contract wins I would assume will lift profitability especially in a company so leveraged as ACS where profitability will ramp up quickly on greater volume.....however again from the interims they are currently trading profitably with room to grow....so my reading is whilst contract wins are obviously absolutley required to grow the business and profit they are not required to survive.....contracts take time.....the gains are there for those who wait...this share is most certainly tightly held according to the holders over 3% list with VERY few free floating shares....so any positive news should see this re-rate very swiftly....one for the longer term ...AIMO!

[scotswhaehae] 30/6/2005 11:22

Yep..not intending to be unpleasant...but it seems pretty obvious that they need contract news sooner or later...I hope they do get wins but until then these look at the top of a rather nasty range...good luck all!

[lord orphan] 30/6/2005 11:11

My reading of the interims is that the cash outflow in the first half had been caused by changes to the IT system causing a backlog in the collection of debtors and that this had been corrected by the time the results were announced. The property investment was funded by a long term loan.

I agree that contract wins were anticipated in the second half. Should they have been announced. I'm not sure that insurance companies like the publicity all that much. I notice that Accident Exchange makes lots of announcements but these are usually with motor dealers who don't mind the publicity. Helphire never makes such announcements.

No doubt we'll find out shortly.

[alexacj] 29/6/2005 16:50

From the interims

At the end of the period debtors stood at £16 million and net debt had risen to
£6 million reflecting the significant rise in debtors and the £1.8 million cost
of acquiring and fitting out the freehold property in Blackpool required to
accommodate AI's growth plans and future opportunities.......from the P & L the debtors were £16.112 mill and the creditors were £15.068....so unless I'm misreading this (I could well be!) Lord is correct.

Scots appears to be also correct....again from the interims

The Group has demonstrated its capability to handle substantial additional
volume; turnover is currently running at a monthly level of approximately £3.5m,and this should increase with the new contract wins expected during the second half of the year. However, the full profit impact of these wins is not now expected to be seen until AI's next financial year.

I would tend to agree with Scots that if they had indeed won the new contracts as stated above they would have announced them!

AIMO!

[lord orphan] 29/6/2005 15:06

Scotswhaehae
I've asked you this before and you didn't respond - what contract/deals news are you talking about?
As far as I know the company has net cash and no debt.
LO

[scotswhaehae] 28/6/2005 20:48

Still a horrible looking chart...

If they havent closed the deals...and we would have heard if they had imho....then these could tank....below 15p for starters ....and then you would have to be careful about the debt position.

Let' hope all is well but no real grounds for so hoping!

Good luck all.

[alexacj] 24/6/2005 14:23

Doesn't copy well but I'm sure you can translate the forecasts....


Broker Date Rec Pre-tax (£) EPS(p) DPS(p) Pre-tax(£) EPS(p) DPS(p)
Teather & Greenwood 25-04-05 SELL 0.13 0.21 0.05 1.50 2.22 0.50
Shore Capital 01-04-05 HOLD 0.20 0.20 1.90 2.20 0.50
Evolution Securities Ltd 16-03-05 ADD 0.20 0.30 0.30 2.00 2.50 0.50

Consensus 0.20 0.21 0.03 1.95 2.21 0.50
1 Month Change 0.00 0.00 0.00 -0.00 0.00 0.00
3 Month Change -0.80 -0.89 -0.47 -0.01 -0.16 0.00

Growth (%) -91.88 952.38
Standard Deviation (p) 0.04 0.14
PE Prospective (x) 107.14 10.18

[richiericher] 24/6/2005 14:15

That is all very interesting.

Why limited to Groups A - D? Does this assist AI more than its competitors?

With yr end 30th June, they must be in line, which was profit of what? Do you know what the broker's latest forecast was Lord?

[alexacj] 22/6/2005 18:54

Thanks....

[lord orphan] 22/6/2005 16:26

www.amassociation.co.uk is one of two trade bodies representing the credit hire companies.

[alexacj] 21/6/2005 22:19

Interesting....where did you get the info from?

[lord orphan] 21/6/2005 19:09

4% increase in hire rates sanctioned from 1 July for group A-D cars and MPVs. Should help AI's recovery in 2005/06.



The GTA Technical Committee has now completed this year's 1 July review of rates.

In summary, they have agreed that there can be an uplift of 4% in rates for Groups A-D inclusive and for large MPVs. Other groups remain unchanged.

In addition, there will be a full review of all rates later this year with any changes being introduced by 1 January 2006 at the latest.

The full review outcome is:
1.A formula was produced to indicate cost increased faced by CHOs over the last year. This produced an increase of 4% based on:
•Cost of vehicles using Autofocus comparative data (weighting 47.5%) •Cost of labour using the average private sector earnings index (weighting 27.5%)
•Cost of insurance using the AA British car insurance index and Autofocus excess waver cost data (weighting 5%)
•Retail price index (weighting 20%)

2.It was agreed that the increase should apply only to Groups A - D inclusive and to large MPVs. The existing GTA rates for all other vehicles will remain unaltered. This was a compromise as there was acceptance of the higher costs over the last year as evidenced by the formula but conflicting information and views provided by insurers and CHOs on recovery rates and the correct base figures that should apply. This follows on from there having been no review of the individual group rates for some years with just overall, standard increases applied to all rates.

3.There will be a compete review by the Technical Committee of the appropriate rates to apply for all vehicles under the GTA for use by subscribers. This will be completed by 1 October 2005 at the latest, with new GTA rates being advised to all GTA subscribers to take effect from 1 January 2006 at the latest. There will be a mediated approach to considering and agreeing rates with views, information and evidence considered in the Technical Committee.

4.If by 1 October 2005 mediation on rates in the Technical Committee is unsuccessful, then there will be binding arbitration using an arbitrator appointed through the Chartered Institute of Arbitrators. Such arbitration will be completed by 1 November 2005 with the outcome binding on the Technical Committee on thus on the approved rates to be notified to all GTA subscribers to take effect by 1 January 2006 at the latest.

5. The above formula has not accepted as setting a precedent going forward and will have no relevance beyond this current rate review. As part of the Technical Committee rate review, agreement will be reached as to the best way of undertaking future annual rate reviews including the factors that should apply. If agreement is not reached by 1 October 2005 then this will also be subject to binding arbitration with a decision arrived at by 1 November 2005 at the latest.

First tier CHO subscribers are now invited to make any changes to their individual settlement rates that are in line with this rate increase agreed by the Technical Committee. These will take effect on 1 July 2005 on application by the CHO in writing (preferably by email) for amended settlement rates to be included on the ABI GTA website. Rates can be rounded upwards/downwards to the nearest 10p so long as it is undertaken in a consistent manner. Please send your new rates as soon as possible so they can be entered on the website by 1 July.

As far as the full rate review exercise is concerned, all GTA subscribers are invited to submit views and information for consideration by the Technical Committee and, if required, the arbitrator. If you have any thoughts or comments on GTA rates that you would like the Committee to consider, these should be sent by Friday 10 July at the latest to:

[lord orphan] 21/6/2005 11:04

Year end is 30 June so results likely mid-Sept. If there is to be a trading statement it is likely around the year-end date i.e soon.

[richiericher] 21/6/2005 09:00

Anyone have end of year details? Results expected date, AGM?

No trading update means what at this stage - Lates forecast was some time ago and suggested 2nd half profit, edging full year in to profit - Any other updates?

[elmfield] 18/6/2005 22:09

Yes, I added as well on to ones bought at 30p.
Hard to buy though, tried for 20k only got 10k.