AI Claims Solutions Share Discussion Threads

[yoyoy] 01/3/2011 08:00

seem ok to me.

plus potential in the comments

[jonc] 01/3/2011 07:53

Morning squash if you are about.

Drop me an email and let me know you are getting on.

Jonathan

[stegrego] 01/3/2011 07:15

Decent results.

[stegrego] 01/3/2011 07:15

Decent results.

[trixter] 01/3/2011 07:13

Significant progress..

"Chairman's Statement

I am delighted to report a record start to the year. The key highlights are:

-- Adjusted profit up 89% to GBP1.7m

-- Revenue up 57% to GBP60.1m

-- Adjusted basic EPS up 90%

-- Major new contract implemented successfully from 1 July 2010

-- Settlement post period end with a major insurer covering 9% of GTA debt and agreement to a forward payment protocol"

[goldibucks] 07/12/2010 01:02

The main negatives keeping the forecast P/E at 5 are;

1) Low margin revenue growth
2) Interest rate risk on debt
3) Poor sector sentiment (e.g. Accident Exchange / Helphire disasters) creating doubts about the viability of credit hire.
4) Unexciting historical EPS growth (07,08 and 09 EPS was about the same as 04, between 2p-2.5p)
5) Low debtor days by sector standards at 103 days (up from 95 days in 09) but high relative to other sectors. This increases working capital management risk.

You have to bear risk to make money, if you think you are making money without bearing risk, you don't know what the risks are.

On the plus side, I'm getting a 27% return per annum based on forecast EPS / my average purchase price falling to 19% at 23p bid. With base rates at 0.5%, that's a very attractive return.

Well ahead is fine but it was always going to be well ahead. I want to see new contract wins, not just renewals.

[yoyoy] 02/12/2010 08:12

Forecast

Rev Ptax EPS P/E PEG EPS Grth. Div Yield
30-Jun-11 127.80 3.70 4.32p 5.1 0.2 +32% 0.73p 3.3%

[trixter] 02/12/2010 08:09

"well ahead"...and this is already on a lowly P/E based on historic results. Going forward that P/E looks like it's forecast to be even lower. AIMHO, DYOR, etc.

[squash90] 02/12/2010 08:07

YOYOY
been with these for 10 years now hope this is the start!!!

[yoyoy] 02/12/2010 07:46

Interesting

"RNS Number : 2159X
AI Claims Solutions PLC
02 December 2010

2 December 2010

Ai Claims Solutions PLC

AGM Statement

At the AGM this morning Steve Broughton, Chairman, will comment on the current
trading of the company as follows:

"Trading in the first 4 months of the financial year is well ahead of the same
stage last year having benefitted from two significant contracts with a major
intermediary which came into effect in March and July. In addition, we have
secured two recent renewals of contracts, one for two years and one for three
years, and these underpin our expectations of meeting the current market
forecasts."

[squash90] 29/9/2010 07:44

goldi do you hold ??
and the bottom line is this good news cause it seems to conflict itself abit!!!

[goldibucks] 28/9/2010 20:29

Today's results in PDF format;



There is some very useful information on risks and mitigating factors, key performance indicators, and loan covenant conditions.

Some highlights;

1) Revenue up 65% £55.7m to £91.9m.

2) Gross margin down from 26% to 18% in line with change in sales mix.

3) Profit for the year attributable to ordinary shareholders up 47% from £1.3m to £1.9m.

4) Basic earnings per share up 47% from 2.13p to 3.14p.

5) Dividend up 10% from 0.60p to 0.66p. Fives times covered.

6) Bank facilities doubled from £15m to £30m to fund working capital growth.

7) Strong start to new financial year with new contract starting on 1 July.

8) Chairman has agreed agreed to extend his 100% share price linked remuneration scheme for a further 2 years.

9) Debtor days up from 98 to 103 but still significantly below industry average. Also, 93% of revenue recognised prior to 30 June 2009 had been collected by 30 June 2010.

10) Net debt up from £8.1m to £18.1m. Based on a revenue increase of £36.2m and debtor days of 103 days, this is entirely working capital driven.

11) Return on capital employed up from 10% to 13%.

[goldibucks] 27/7/2010 20:46

Write up about Ai Claims in the Blackpool Gazette



A couple of new quotes from Peter Harrison in this article. Says they have taken on 100 new staff in the last 12 months.

[trixter] 27/7/2010 09:05

up, up and away...should be positively re-rated IMHO.

[goldibucks] 27/7/2010 07:39

Pre close trading statement out today.

Ai Claims Solutions Plc ("Ai"or "the Company"), the ethical motor claims solution provider, announces that its preliminary results for the year ended 30 June 2010, will be released on Tuesday 28th September 2010.

The announcement last February of the interim results for the period to 31 December 2009 included the disclosure that the Company had commenced the implementation of a full outsource scheme for an insurer in run off. Since that time, the level of activity associated with the run off arrangement has delivered repair volumes in excess of that initially anticipated. The Company has in addition witnessed increased demand from existing key referral sources.

Both of these factors have positively benefitted the Company during the period ending 30 June 2010. As a consequence, the Board now expects turnover, profit before tax and earning per share for the financial year ending 30 June 2010 to be ahead of market forecasts.

The Company is also pleased to announce that two significant schemes with a major intermediary have also been implemented as expected. The benefits of these new schemes will impact positively on the results for the year ending 30 June 2011.

[trixter] 22/7/2010 08:49

Thanks Goldibucks...as you say this looks promising, especially with companies like HHR going the other way. ACS looks to becoming the largest operator in this space.

[goldibucks] 22/7/2010 08:04

AI CLAIMS EXPANDS WITH WORKING CAPITAL FACILITY - 19 July 2010

FAST-expanding claims management company Ai Claims Solutions plc is set for further growth after securing a significantly increased working capital facility from Yorkshire Bank.

Yorkshire Bank's Preston Financial Solutions Centre (FSC) has provided an additional £15million of working capital to enable Ai Claims Solutions to service growth, following the award of a significant new contract with a major motor insurance claims intermediary.

The Blackpool-based company manages motor claims on behalf of some of the UK's largest insurers, brokers and automotive businesses. Analysts anticipate turnover of around £85million this year, a 52% increase, and around £120million next year. The company has 450 employees and is one of the largest private sector employers on the Fylde coast.

Peter Harrison, CFO at Ai Claims Solutions, said: "we have expanded rapidly over the last couple of years and made substantial investment in our systems and infra-structure, including the completion of a £4m investment in our claims administration system. Our new working capital facility enables us to continue our expansion."

Andy Nurse, business partner at Yorkshire Bank's Preston FSC, said: "Ai Claims Solutions is a solid business with clear growth plans and an ambitious and focused management team. We are very pleased to be able to support the company's organic growth with this significant working capital facility."

Ai Claims Solutions manages motor claims from the initial incident through to final resolution, including replacement vehicles and repairs, for several of the leading insurance companies, brokers, and automotive businesses across the UK.

In May, Yorkshire Bank introduced its Investing for Growth package which offers a dedicated business planning service and flexible approach to investment finance to enable businesses to invest in quality growth opportunities.

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Interesting reference above to a 41% increase in revenue to £120m expected in the 10/11, now current, financial year. This would mean Ai Claims would be valued at about 10% of revenue based on the current £13m market capitalisation. The pre-close statement for the year ended 30 June 2010 is due any day now.

[squash90] 21/5/2010 07:50

and this news means what ?? anyone!!

[goldibucks] 02/3/2010 20:06

H1 EPS up 31% bodes well for the full year. Net debt at £12.8m is £0.9m ahead of market capitalisation at 19.5p bid. Debtors days up from 95 to 101 versus 200+ sector average. Probably in the share price after the recent run but doubt many people will be selling on the back of the results. Provided there are no hiccups with debtor days or working capital, the share price is only going in one direction.

[trixter] 02/3/2010 07:47

..and...more to come this year...

"As in previous years, we anticipate that our profit will be weighted towards the second half of the year."

and increased divi paid earlier:

"The Board is pleased to announce an interim dividend of 0.29p per share (2008: 0.26p), an increase of 12%. The dividend will be paid on 1st April 2010 to shareholders on the register at 12th March 2010."

[trixter] 02/3/2010 07:30

Good progres this half year and:

"We expect additional growth opportunities to continue to become available and
are confident that the Group has made a breakthrough to become an operation of
significantly greater scale."

Not bad at all!

[trixter] 23/2/2010 13:57

good news on the way with results next week?

[goldibucks] 03/12/2009 07:16

AGM statement this morning;

"The new financial year has started well with both revenues and profits marginally ahead of expectations in the first four months of the financial year. Ai is in advanced discussions with several insurers on the clearance of older debtor balances and anticipates that this will lead to an improvement in the debtor days position over the coming months. We continue to be encouraged by the market's increased recognition of the different business models of the leading claims handling organisations and in particular the merits of the Ai model."

[squash90] 23/11/2009 08:31

thanks goldibucks