TIDMNARS
RNS Number : 4189M
Nationwide Accident Repair Srvs PLC
29 January 2009
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NARS
29 January 2009
NATIONWIDE ACCIDENT REPAIR SERVICES PLC
("Nationwide" or "the Company")
Pre-Close Trading Update
Nationwide, the largest dedicated provider of automotive crash repair services
in the UK, is pleased to make the following update on trading for the year ended
31 December 2008, prior to entering its close period.
The Directors are pleased to report that Nationwide's full year results are
expected to be in line with market expectations, representing a record year. The
balance sheet remains strong, with nil borrowings and net cash as at 31 December
2008 of approximately GBP5.4million. This is after the acquisition of six body
shops over the period.
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.
Enquiries:
+----------------------+--------------------------------+------------------+
| Nationwide Accident | Michael Wilmshurst, Chief | T: 01993 701 720 |
| Repair Services plc | Executive | |
| | David Loftus, Finance Director | |
+----------------------+--------------------------------+------------------+
| | | |
+----------------------+--------------------------------+------------------+
| Arbuthnot Securities | Alasdair Younie | T: 020 7012 2000 |
+----------------------+--------------------------------+------------------+
| | | |
+----------------------+--------------------------------+------------------+
| Biddicks | Katie Tzouliadis/ Sophie Lane | T: 020 7448 1000 |
+----------------------+--------------------------------+------------------+
| | | |
+----------------------+--------------------------------+------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
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