31 January 2019
Anexo Group plc (AIM: ANX), the specialist integrated credit hire and legal services provider, today provides the following pre-close trading update for the year ended 31 December 2018 ('FY-2018').
FY-2018 was a year of excellent progress for the Group and since Anexo's AIM IPO in June, its strategy continues to be delivered and trading has been robust. The Board is therefore pleased to announce that it expects to report adjusted* profit before tax of not less than £16.0 million, which is slightly ahead of current market expectations of £15.8 million.
FY-2019 has started strongly with continued investment into the Group's credit hire fleet. In addition, positive momentum is being made at Bond Turner, the Group's legal services division, in particular at their new regional office in Bolton. Recruitment at this office continues to be a key focus and it is anticipated that the current 25-strong team of solicitors, qualified legal executives and litigation specialists will double in the coming months allowing the Group to process an increasing volume of cases. With Anexo's strategy being implemented to plan, the Board remains confident in the future outlook for the Group.
Notice of Results
The Group will be announcing its Final Results on Tuesday, 9 April 2019. An analyst briefing will be held at 09.30hrs at the offices of Buchanan, 107 Cheapside, London EC2V 6DN.
*Adjusted for IPO costs and share based payments
For further information:
|Anexo Group plc|
|Alan Sellers, Executive Chairman||Tel: +44 (0) 151 227 3008|
|Mark Bringloe, Chief Financial Officer||www.anexo-group.com|
|Arden Partners plc|
(Nominated Adviser and Broker)
|John Llewellyn-Lloyd / Benjamin Cryer / Alex Penney||Tel: +44 (0) 20 7614 5900|
|Henry Harrison-Topham / Steph Watson||Tel: +44 (0) 20 7466 5000|
Notes to Editors:
Anexo is a specialist integrated credit hire and legal services provider founded by Executive Chairman, Alan Sellers. The Group has created a unique business model by combining a direct capture Credit Hire business with a wholly owned Legal Services firm.
The integrated business targets the impecunious not at fault motorist, referring to those who do not have the financial means or access to a replacement vehicle. Through its dedicated sales team and network of 1,000 active referrers around the UK, Anexo provides customers with an end-to-end service including the provision of Credit Hire vehicles, assistance with repair and recovery, the management and recovery of costs, and the processing of any associated personal injury claim.
The Group was admitted to trading on AIM in June 2018 with the ticker ANX.
For additional information please visit: www.anexo-group.com.