Quindell Portfolio – 14p

8 April 2013 - trading update

A positive trading update from the group covering the first quarter of the year has revealed that adjusted EBITDA for the three months to 31 March was over £25m compared to just £5.5m in the first three months of last year.  Margins for the quarter were better than expected and the group’s integration plan is ahead of expectations.  A new management team structure will also be announced shortly.  Following on from last week’s announcement of the new large contract with RAC this is more good news and the shares remain a BUY.

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