LONDON (Thomson Financial) - Accident Exchange Group Plc. said it sees full
year to end April results in line with market expectations and expects the
increasing trend of cash collection witnessed during the eight week period to
May 12 to continue.
For the eight week period to May 12, the vehicle replacement company said
its daily average cash receipts have improved to 642,000 pounds per day from
588,000 pounds per day over the seven week period to March 17.
The company added its daily cash collections continue to improve on better
traction from the solicitor panel established during 2007 and evolving talks
with insurers related to prompt settlement to avoid the incremental expense of
litigation.
TFN.newsdesk@thomson.com
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