Anexo trading in line ahead of full-year results

7th Apr 2022 12:26

(Sharecast News) - Credit hire and legal services provider Anexo said in an update on Thursday that its current trading was in line with management expectations.

The AIM-traded firm said it was focussed on "quality" claims, "high service standards" and high success rates, with the number of vehicles on the road reduced to 1,955.

It said its Bond Turner housing disrepair team had settled 850 cases since inception, with a further 1,800 cases currently under management.

New debt funding of £10.5m had been secured, while the funding facility with Secure Trust Bank was being increased a further £7.5m through three quarterly increases during 2022.

"We are pleased to report that Anexo continues to operate in line with management's expectations," said executive chairman Alan Sellers.

"Overall, we have seen improvement across all business areas and our targeted approach has resulted in a continued emphasis on quality claims, high success rates and high levels of service to our customers.

"Cash collections continue to improve on an ongoing basis."

Anexo said it would report its results for the year ended 31 December on 11 May.

At 1059 BST, shares in Anexo Group were up 1.78% at 139.44p.