Resources In Insurance Group Share Discussion Threads

[imabastard] 28/2/2011 08:50

More like 'pedantics' ....

[moreforus] 28/2/2011 08:49

fair enough...

so we have to fill in the gaps

the market cap is 1.6 mill gbp

they need to make 160k gbp profit to support that in 2011

undervalued here imho and hard to buy down here

[humbugg] 28/2/2011 08:48

semantics.

[imabastard] 28/2/2011 08:45

"you can put contract numbers " .... assuming you mean 'values'.

[humbugg] 28/2/2011 08:42

m4,
im well aware of that. you can put contract numbers in a trading statement.

[moreforus] 28/2/2011 08:32

its a trading statement not interims ...

key statements

no debt

The balance of the outstanding loan stock which was converted into equity over the last few months leaves the Group with no outstanding borrowings or bank loans and with a positive cash position.

and a return to profitability on the horizon imho

"Today's news on continued reduced losses is encouraging and shows the progress being made by the Board in seeking to return the Group to profitability.

2009 - GBP549,000 and 2008 - GBP1,326,000).

2010 minus better than 549k?

2011 plus???

[humbugg] 28/2/2011 08:23

morning m4,
no numbers in that RNS?
PS i did buy a few of these last week.

[moreforus] 28/2/2011 08:10

well cant buy online

humbugg...bah!!! (-;

gone blue

[humbugg] 28/2/2011 08:02

words words words, make me no undying vow, show me the money.

[jp5000] 28/2/2011 07:57

Yep positive news from riig and to be honest not suprised good solid foundation to build on a unique business in a growing market !

[moreforus] 28/2/2011 07:31

ima good statement....profits on the horizon...

as the share price has been hammered and reflects bad and not good news was expected we should see a rise today...

[imabastard] 28/2/2011 07:29

"and with a positive cash position."

[moreforus] 28/2/2011 07:08

Trading Update
TIDMRIIG

RNS Number : 9135B

Resources In Insurance Group PLC

28 February 2011

28 February 2011

RESOURCES IN INSURANCE GROUP PLC

("RiIG" or the "Group")

Trading Update

The Board of Resources in Insurance Group plc, a leading provider of claims management and consultancy solutions to the UK insurance profession, is pleased to provide a trading update for the period to 31 December 2010, reflecting a third successive period of improvement and reduced losses (2009 - GBP549,000 and 2008 - GBP1,326,000).

Trading update

As a result of the change of direction of the Group following the Board restructuring of 2008, and the subsequent sale of the loss adjusting division in 2009, the Board expects to report reduced trading losses for the period to 31 December 2010. The Board anticipates that the results of the period to 31 December 2010 will be released during April.

Operational update

The Group operates through its four divisions, i-Team, Verify, Consult and Surety Claims. The Board is encouraged by the Group's trading in the current financial year and all divisions and, in the Board's view, all divisions are complementary to RiIG's aim of building an all encompassing claims market specialist.

The Group has secured two high profile motor personal injury audits looking at technical claims handling and reserve levels and, on the back of the poor UK weather at Christmas, RiIG has seen a rise in the need for quality solutions in the insurance sector. The Group is currently in the course of negotiations concerning a number of potential new business contracts and the Group continues to extend its market footprint into the Lloyds and London market with further new business through the RiIG's insource teams.

The Board's aim in 2011 is to continue to build and establish RiIG's products and reputation in the UK claims market.

Commenting on today's news, Executive Chairman John French, said:

"2011 has started well as a result of new business achieved in the latter part of last year and during the beginning of the current year. Prospects going forward are encouraging as i-team continues to progress both with existing and new clients and Verify, which was test marketed last year, is beginning to attract clients. The balance of the outstanding loan stock which was converted into equity over the last few months leaves the Group with no outstanding borrowings or bank loans and with a positive cash position.

"Today's news on continued reduced losses is encouraging and shows the progress being made by the Board in seeking to return the Group to profitability. The Board believe that the Group now has a solid foundation upon which to grow, both organically and through any possible acquisition opportunities, and is optimistic about the Group's prospects for 2011."

[jp5000] 18/2/2011 22:07

Blimey took a wacking today ! o well holding for the long term anyway gla

[dicko80] 17/2/2011 16:40

use selftrade for my SIPP they were fine, built up a nice holding here now :-)

[dicko80] 17/2/2011 14:50

not getting a buy quote with halifax...

anyone else ?

[moreforus] 17/2/2011 14:34

have a look back at the recent lows - what was the lowest price paid? that imhos is support...the mini dip was bought today..

thats positive

[moreforus] 17/2/2011 14:03

then do so....

little stock available when you want it...

[matty28] 17/2/2011 14:03

My my this has woken up in the past few days tempted to top up!

[ibs7491] 17/2/2011 11:28

wee topup 250000 at 0.58p for me,looking a bit perkier today,gla

[dicko80] 17/2/2011 11:24

Volume picking up...

breaking out on the chart from the pennant

[moreforus] 17/2/2011 11:10

and more

another 800k taken