Stock data
| Market cap. | £15.7m |
| Last close | 25.75p |
| High / Low (52 weeks) | 30.2p / 20.0p |
| Stock market listing | AIM |
| Forecast net debt (£m) | 19.1 |
| Forecast gearing ratio (%) | 95 |
| Team | Financials |
| Sector | Financials |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | 25.61 | 0.98 | 0.98 |
| Relative * | 19.84 | (4.72) | 4.82 |
* % Relative to local index
Other companies covered in sector
| Y/E Jun | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (fd) (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 91.9 | 4.2 | 2.7 | 3.3 | 7.8 | N/A |
| 2011A | 117.6 | 5.8 | 3.8 | 4.3 | 6.0 | 34.2 |
| 2012E | 108.2 | 5.0 | 3.0 | 3.4 | 7.6 | 2.2 |
| 2013E | 119.9 | 5.9 | 4.0 | 4.5 | 5.7 | 5.2 |
Last updated on 02/12/2011
Latest research
No car crash
Update | Financials | 01/12/2011
Ten green bottles?
Outlook | Financials | 28/09/2011
Growth continues
Update | Financials | 23/05/2011
When credit is due
Update | Financials | 01/03/2011
Strong prelims
Update | Financials | 29/09/2010
Making hay in the rain
Outlook | Financials | 19/07/2010
Growing revenues
QuickView | Financials | 02/03/2010
Investment summary
ACS provides accident management solutions, built around credit hire and credit repair, to 'non-fault' drivers and the insurance companies of 'at fault' drivers. Its product set and low-cost strategy align it better with the motor insurers than many peers, which has allowed growth through market share gains at the expense of challenged competitor business models. A lack of owned fleet and conservative revenue recognition have been beneficial. The economy is pressuring car use and, with that, accident frequency is lower. This means less business for ACS in the short term, but we believe it is well placed to benefit from the likely further consolidation of market shares.
Last updated on 09/12/2011
Industry outlook
Overall industry conditions are tough as insurers seek to limit their costs by challenging claims and paying slowly, while falling car use is pressuring industry volumes.
Last updated on 09/12/2011
Key management
| Steve Broughton, Chairman |
| David Sandhu, CEO |
| Peter Harrison, FD |
Company address
| Indemnity House, Viscount Court Sir Frank Whittle Way Blackpool Airport Blackpool FY4 2FB United Kingdom +44 (0)844 571 3333 View website |
