Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 24th of April 2018
October 28, 2010

Helphire warns on profit

by Gill Montia

Story link: Helphire warns on profit

Helphire has issued a trading update in which it describes market conditions as having “not been favourable for the Group”.

The motor accident assistance company explained that high petrol prices and fewer road miles being driven have led to lower accident rates, meaning that its results for the year to 30 June 2011 will be below market expectations.

However, the group’s restructuring programme should mean that adjusted operating and pre-tax profit for the current financial year are broadly comparable to the prior year.

Helphire has also reported that a new contract win with a “significant financial services brand” has commenced and that it is on track for a further new contract win that should commence early next year.

Managing director, Martin Ward, comments: “Helphire is in much better shape following the turnaround plan and despite the lower expectations the Group has continued to strengthen its overall position.”

 

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