Quindell Portfolio – 14p

21 February 2013 – trading update

The group has issued a positive trading update covering the year to 31 December with results set to be in line with market forecasts.  The results for the year will be announced on 7 May when the group will also update on its plans to move from AIM to a full listing.  The current financial year has started strongly with all the pilot contracts undertaken in the latter stages of 2012 being converted into ongoing relationships.  This, together with other outsourcing wins that the company has gained, is providing good visibility of revenues for the rest of the year with market forecasts of revenue for 2013 on line to be achieved.  The shares have drifted lower over recnt weeks from the high of 17.5p last month and we believe that this provides a useful buying opportunity.  BUY 

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