Nationwide Accident Repair Svc Share Discussion Threads

[spob] 03/9/2014 08:30

I think it was around 20m per full year in lost revenue as of june 2012

[spob] 03/9/2014 08:22

How much was the contract worth that they lost previously

was it aviva from memory ?

[spob] 03/9/2014 08:22

yes I guessed that MT

better than a kick in the teeth I suppose

[owenga] 03/9/2014 08:17

GH QPP business model is certainly tough on cashflow. However cashflow is about to go positive, if it has not already. It certainly does not have cashflow problems. Cashflow is exactly where the company expects it to be and it is being managed by slightly reducing its huge growth.

[m1das_touch] 03/9/2014 08:10

Revenues - their profits on individual contracts will be commercially sensitive, as with all companies. They won't even want Allianz to know how much profit they're making, as it would inevitably lead to margins being squeezed if Allianz think they're making too much on the contract.

[spob] 03/9/2014 08:05

£10 million in revenues or £10 million in net profits ?

[m1das_touch] 03/9/2014 08:01

Great news this morning - contract with Allianz Insurance worth around £10m per year once fully implemented. Supports current year trading, as it begins immediately.

[gutterhead] 25/8/2014 15:02

Qpp have said no more takeovers for the foreseeable. They bought the shares at approx 90p so won't offload at these prices ...... Unless they have to.
Qpp business model is cash nightmare

[dlku] 25/8/2014 14:58

Look at the Quindell chart. Crashing, cash worries. If you can't see it, il have some of what yer smoking

[miavoce] 25/8/2014 13:04

I expect that it is more likely for Quindell to be future buyers rather than sellers, especially if they can get the shares at a goo price.

[dlku] 25/8/2014 12:34

Quindell holding 29% is a major overhang esp if Quindell goes belly up it will dump in the market. i fear it may retest 50p again

[m1das_touch] 21/7/2014 13:41

Yes Simon Thompson has re-iterated his buy advice in IC ahead of interims in September, with a target price of 105p.

[deanowls] 21/7/2014 13:37

Has this been tipped somewhere?

[gutterhead] 17/7/2014 21:57

Time to buy, does anyone know when half year results will be announced?

[spooky] 26/6/2014 14:00

Does anyone have any thoughts on where these small sellers keep coming from?

[steamy001] 17/4/2014 09:07

Nationwide Accident turns a corner

(NARS)Nationwide Accident full-year results were not pretty, but the company is in much better shape than it was six months ago.

The group is the UK's largest dedicated accident repair firm, mainly fixing up cars for insurers and fleet operators. Unfortunately for the group, cars have got safer and that means fewer accidents and fewer repairs. That trend has been exacerbated by tough economic conditions and overcapacity in the car repair market.Underlying operating profit sank by over a third to £4.2m, while £3m of one-off costs relating to reorganisation after July's acquisition of Exway meant the reported figures slumped by much more. But the worst may be over. Underlying profitability in the second half was up by almost 30 per cent compared to the first half, reflecting actions to improve efficiency, and the economic backdrop is also brightening with a pick up in new car registrations.

One thing the results statement failed to mention was insurance outsourcer Quindell (QPP) . It built a 25.3 per cent stake in Nationwide in September, saying it had "a key level of influence" in relation to shareholder decisions and was looking to increase its holding to 29.9 per cent. Broker Westhouse expects adjusted pre-tax profit £4.9m for 2014, giving EPS of 8.4p (2013: £3.1m, 5.1p).

[davebowler] 15/4/2014 09:16

Westhouse;
Nationwide Accident Repair Services has released FY2013 results.

Preliminary results for the year to December 2013 are in line with our forecasts and reveal an improved financial performance during the latter six months of 2013, that includes higher profitability and cash generation. Results include revenues for the period of £156.6m vs. £155.9m for FY2012, compared with our forecast of £164m; adj. PBT of £3.1m vs. £5.5m for FY2012, compared with our forecast of £3.1m; and adj. EPS of 5.1p vs. 9.9p for FY2012, compared with our forecast of 5.3p.

Exceptional items relating to the acquisition of Exway Coachworks, flagged at the time of the acquisition, site closure costs and asset impairments, totalled £2.7m, resulting in a statutory net loss and EPS for FY2013 of £194k and (0.5p), respectively, vs. £4.0m and 9.2p for FY2012.

A final dividend of 1.9p has led to DPS for FY2013 of 2.9p vs. our forecast of 2.7p. Providing some comfort over the rebased dividend, NARS ended FY2013 with net cash of £6.3m vs. £5.1m for FY2012.

Strategically, developing a broader and deeper service offering remain key objectives for management to deliver improved economies of scale and returns, through a combination of organic growth and acquisitions. Bank funding of £20m has been put in place to facilitate acquisitions.

We expect to make no material changes to FY2014 financial estimates having revised our forecasts on the back of the acquisition of Howard Basford in February this year. However, we view today's results as providing a solid base for this financial year and are encouraged by the positive start NARS has made to this year. Management's improved outlook provides greater confidence in the 3.3% dividend yield on offer and with the stock trading on FY2014 P/E and EV/EBITDA multiples of 9.7x and 3.9x we maintain our 100p target price and Buy recommendation.

[deanowls] 08/4/2014 03:56

All part of the master plan for quindell, end to end control for the insurers that do business and wish to control back office costs which can be stripped out and deal with singular invoices rather than multiple ones.

[gutterhead] 07/4/2014 22:54

Do you think quindell are bothered still? They seem to be up to bigger things currently?

[steamy001] 06/4/2014 21:54

Maybe Quindell are buying them

[opodio] 01/4/2014 00:04

Nationwide announces that, after serving for nearly eight years as a non-executive director, Lady Judge is stepping down from the Board today.


strange comment. is she dumping her shares?

[davebowler] 25/3/2014 10:27

Westhouse;
NWIDE.ACCID.REPR.SVS.*
Buy

NARS.L / 82.00p / £35.42m / TP: 100p




Board change

Nationwide Accident Repair Services (NARS) has announced that Lady Judge is stepping down as a non-executive director of the company, having served on the Board for almost eight years. Management intends to appoint another independent non-executive director in due course.

We do not view today's news as having any fundamental impact on NARS.

Having increased our FY2014 adj. PBT and adj. EPS estimates to £4.9m and 8.4p, respectively, from £4.3m and 7.5p in February on the back of the acquisition of Howard Basford, we retain our 100p target price and Buy recommendation, ahead of the release of final results in April.

[topvest] 02/3/2014 16:45

Yes, looking a good recovery stock now. I guess the better economy is probably starting to feed through into their business now. If this keeps going I will be back into profit soon, pre-dvidends.

[dozey3] 01/3/2014 17:34

Makes Quindels swoop for 25% a little while back seem inspired! though no doubt that is part of the bull case.