Quindell Portfolio – 15.25p

15 January 2013 – pre-close trading statement

Quindell, the provider of industry leading software and consultancy services to the insurance industry, has today put out  a very positive trading update. Results for the year  ending 31 December 2012 are expected to beat expectations and cash levels are also better than expected at the year end.The pipeline of new business remains strong and the conversion of pipeline business into pilots and then full contracts is ocurring at a more rapid pace than at any period before. We feel that the momentum that has been built up during 2012 is set to continue during 2013, and on a rating of less than 7x the shares look cheap. BUY

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