StockMarketWire.com - Anexo Group confirmed that profit before tax would 'significantly exceed' current market expectations of £20m amid initiatives to boost cost savings and average claims.
The update comes as the company highlighted a number of initiatives that bolstered growth, including securing new financing arrangement with new and existing providers and securing new terms with its existing fleet insurance provider, which boosting cost savings.
The company's also said its decision to target the most valuable claims enhanced its average claim statistics and underlying profitability.
The increased capacity generated by the expansion of the new regional office of Bond Turner, the Group's legal services division, meanwhile, resulted in increased levels of case settlements, cash collection and overall legal fee income, the company said.
'Taking these matters together, the Board now confirms that profit before tax will significantly exceed current market expectations of £20.0m,' said Anexo Group.
The group was expected to announce its Interim Results for the six months ended 30 June 2019 on Tuesday, 10 September 2019.
At 9:33am: [LON:ANX] Anexo Group Plc share price was +18p at 194.5p
Story provided by StockMarketWire.com
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