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Daily Insurance Industry News
Saturday 20th of January 2018
January 30, 2009

Nationwide Accident Repair reports record year

by David Masters

Story link: Nationwide Accident Repair reports record year

Nationwide Accident Repair services has posted its expected 2008 results with record net cash of around £5.4 million and nil borrowings.

The UK’s biggest crash repair specialist has bucked the recession, acquiring six body shops in the last year.

A statement from the company said: “The performance demonstrates the success of the Company’s twin track strategy of growth, organically and via acquisitions.

“In particular, results reflect the benefits of contracts and volume extensions won in the previous financial year.

“The Directors remain confident that the business is well positioned for long term growth.”

In 2007, Nationwide reported a £6.8 million pre tax profit on revenues of £151.9 million.

 

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