18 Dec 2013 07:00
For release 7am 18 December 2013
Quindell Plc
("Quindell", the "Group" or the "Company")
Trading update and Investor Teach In
Quindell Plc (AIM: QPP.L), the provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets, being insurance, telecommunications and their related sectors is pleased to announce that good progress is continuing to be made throughout the business and that trading has continued positively in the final quarter of 2013, building on the strong performance delivered by the Group in the first three quarters of the year.
Trading in the last quarter of 2013 has continued in an extremely positive manner, with over £100 million of new business confirmed since the Group's announcement of the successful £200 million fundraise (net of expenses) in mid November 2013. The pipeline for further organic wins within the Group's Services Division remains at record levels and the Board is confident, in line with its previous track record of pipeline conversion, of being able to continue to rapidly deploy the capital that has been raised to fund further profitable organic growth. The Group intends to issue a pre-close statement for the full year to 31 December 2013 on 16 January 2014.
Subject to agreeing the appropriate payment terms in new business contracts and continued roll out of its collaboration models, the success of which becomes even more likely post the recent announcements from the Competition Commission on its review of the private motor insurance market, the Group has funding available to comfortably exceed 4 pence of EPS in 2014.
The Group is also pleased to confirm that following on from the successful Teach-Ins held earlier this year, it will be holding a further Analyst and Institutional Investor Teach-In focusing on the strong growth trends being experienced by its Solutions Division, as well as covering its telematics business in more detail including profiling recent contract wins. No information specific to the Group's current trading will be discussed at the Teach In. Attendance of the forthcoming Teach-In has already been confirmed by a large number of institutions that took part in the Group's recent fundraise. The Teach-In will be from 10am to 3pm, Tuesday 14th January 2014, Quindell Court, 1 Barnes Wallis Road, Segensworth, Fareham, Hampshire PO15 5UA.
The Company continues to engage with advisors to ensure that together with its current and prospective shareholders it is well prepared for its move to the UK Full List and potential Canadian dual list in the early part of 2014, with progress on this project to date being in line with previous guidance.
For further information:
Quindell PlcRob Terry, Founder and Executive Chairman
Laurence Moorse, Group Finance Director
Ian Farrelly, Group General Counsel & Company Secretary Head of Investor Relations | Tel: 01489 864201 terryr@quindell.com Tel: 01489 864205 moorsel@quindell.com Tel: 01489 864217 farrellyi@quindell.com |
Cenkos Securities plcJoint Broker and Nominated AdvisorStephen Keys Bobbie Hilliam
Canaccord Genuity Limited Joint Broker and Financial Advisor Simon Bridges Bruce Garrow |
Tel: 020 7397 8900
Tel: 020 7523 8350
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Media Enquiries Redleaf Polhill Limited Rebecca Sanders-Hewett Jenny Bahr
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Tel: 020 7382 4730 quindell@redleafpr.com
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Notes to Editors: About Quindell Plc
Quindell Plc is a provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets being insurance, telecommunications and their related sectors. Quindell entered the second half of 2013 with a run rate of gross sales of more than £400 million and with over £80 million of EBITDA earned in the first three quarters of 2013. Our award winning business transformational, software, consultancy and outsourcing solutions are recognised as delivering significant savings and additional sales to our customers every year. For further information, please visit www.quindell.com