Nationwide Accident Repair Svc Share Discussion Threads

[stluke] 12/2/2013 07:44

Nice update this morning which should see the continuation of recent gains ahead of results in early April.

[anusol] 12/2/2013 07:43

nice strong results - share price going 70p+ u think? Certainly a bargain dividend yield.

[masurenguy] 12/2/2013 07:29

Good update indicating solid progress over the past 12 months with an improved net cash position and
a reduced pension deficit. With the company maintaining the annual dividend at 5.5p, this represents an outstanding yield of 8.3% on last nights closing midprice of 66.5p.

NATIONWIDE ACCIDENT REPAIR SERVICES PLC
Trading Update
12/02/2013

Results for the year are expected to be in line with current market forecasts. The Group generated better cash flows than expected taking into account payments of £0.8m relating to the exit of three property leases and the reported net cash position at the 31 December 2012 of £5.0m. As previously indicated, the Board is implementing the revised IAS19 pension accounting standard and anticipates reporting a reduced deficit of £22.7m for the year (2011: £26.1m). The Directors expect to propose a maintained final dividend of 3.6p per share, taking the total dividend for the year to 5.5p per share.

The structural pressures in the motor insurance claims market remain resulting in reduced volumes in the marketplace. Against this backdrop, Nationwide's sector performance was good, supported by its position as a national operator with an integrated range of services. As previously reported, in December 2012, Nationwide renewed major contracts with Hastings Direct and Zurich Insurance and commenced a short term arrangement with Aviva PLC following Aviva's previous supplier entering into administration. Nationwide's progress in building its non-insurance funded revenues over the year was very good with strong year-on-year revenue growth for both fleet and retail. The scope to build the Group's presence in these markets as well as in the insurance market remains significant over the coming years.

The Board expects to announce preliminary results for the year to 31 December 2012 on 9 April 2013.

[gary1966] 12/2/2013 07:05

Nothing alarming in the trading update and confirmation that divi is being held.

[muffinhead] 05/2/2013 16:13

I have not seen any and just follow prior year dates as a guide

Don't expect too much interaction to questions from others on this thread....they are all silent types..lol. If you post something relevent or interesting, expect the shareprice to go down....so maybe silent and influential types!

sshhh

Can try here

[fittster] 01/2/2013 16:14

Do NARS post an investors calendar anywhere? I can find dates for previous years but not for 2013.

[muffinhead] 27/1/2013 22:00

Unintended consequences

[gary1966] 15/1/2013 13:41

Trading update towards the end of next week?

[aleman] 04/1/2013 11:12

10-year gilt yield has gone from 1.70% 6 months ago to 2.09% now, after jumping sharply in the last 2 days. It should provide a useful boost to pension funds if the B of E doesn't wade in again.

[stluke] 02/1/2013 13:48

Decent recovery going on here, recent contract news seems to be the cataylst, chart pointing towards 90p if we can get beyond 70p in fairly short time.

[muffinhead] 29/12/2012 23:05

Osborne announced something in last months budget that surprised and I suspect in time could disappoint many.....

The Chancellor said that from 2014, the pension lifetime allowance will reduce to £1.25m. The limit is currently £1.5m !! This is a steep drop compared to when this idea was introduced in 2006

The lifetime and annual pension contribution allowances are going south nominally and after inflation a lot more besides!



I am also reading between the lines of a Telegraph article on "pensions apartheid" but as it is the Torygraph and they like to run things up the flagpole to test public reaction, read what Chris Noon, partner at Hymans Robertson, the actuary, has to say about defined and final salary pensions



"This situation is so discriminatory it's incredible," Mr Noon said. "Final salary pensions are almost twice as good on a like-for-like basis. This needs to be addressed.

The valuation of final salary pensions is too simplistic."

So the the final salary pension pot value is determined by using the current pension annuity rate and the final salary. Yes we know that Chris Noon..that has created pension deficits. But you are suggesting the lifetime pension allowance be applied also to final salary pensions which could reduce the final salary obligation by 50%.....are you out of your mind man;;;;the government says your a genius

Which begs the question what could a pension trustee do if companies stopped pension top ups should the government change the law so that all UK citizens, irrespective of whatever pension type, were only entitled to a lifetime pension pot of £1.25m from 2014. Pension pots already over £1.5m loose tax advantages and a capped pension pot for everyone could lead to a situation where many final salary pensions do not pay out the expected final salary

Where the government has a will, there is always a way .....time will tell

[muffinhead] 21/12/2012 17:01

Some good news for men

[finkie] 21/12/2012 14:52

masurenguy thanks have had a read dont fully understand but it appears that they have to put £2.6m year into the pot is that likely to rise? The deficit is as large as the market cap I believe is that normal?

[masurenguy] 21/12/2012 09:41

It's all in their interims !

[finkie] 21/12/2012 08:55

Morning everyone im new holder of nars. Can someone confirm what the pension deficit and what the agreed payment plan required is to top up? Nice company seems well run and no debt but before I buy more just want to understand this aspect better please. Wet weather causes more accidents re last post so they would be busier with the recent rain.

[finkie] 21/12/2012 08:51

Morning everyone im new holder of nars. Can someone confirm what the pension deficit and what the agreed payment plan required is to top up? Nice company seems well run and no debt but before I buy more just want to understand this aspect better please. Wet weather causes more accidents re last post so they would be busier with the recent rain.

[topvest] 20/12/2012 21:45

Yes, good point - should be at the margin. Flood damaged cars are written off rather than being repaired in the main though.

[gary1966] 20/12/2012 20:30

I wonder if all the floods we have had around the country will be helping the insurance business side of things.

[topvest] 20/12/2012 20:28

Diverse Income Trust buying more is also a good signal.

[gary1966] 20/12/2012 20:28

Interesting trades of 950 & 900K. I wonder if they have been worked over the last couple of months and that was an overhang now cleared. The way the price reacted today to relatively small trades would suggest that this may be the case.

[topvest] 20/12/2012 20:27

Nice to see this moving in the right direction at last. About time! It's had a tough time, but they are well positioned to rebound strongly with revenue growth as they are now a lot leaner!

[m1das_touch] 20/12/2012 14:45

Yes, the great thing with this company is that you collect a 9% dividend (which seems pretty secure in view of the healthy cash situation) while you wait for recovery and a re-rating. I'm sure there will be a strong recovery in time, particularly with the diversification away from insurance work into new business streams with significant growth potential.

[gary1966] 20/12/2012 12:51

Nice to see the Diverse Income Trust increasing their holding significantly as well. What with the top 5 rating award it has been a good December so far and the positive feel is building. We must remember these are coming from a very low base and so much room for improvement in the share price.