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Helphire boosts profits

Accident management firm Helphire has seen massive growth in revenue and operating profit for the first half of 2005.

The company, which provides services to victims of car accidents including replacement vehicles and repairs, saw operating profit increase by 188% to £11m for the first six months of the year compared to the same period in 2004. Revenue increased by 76% to £76.5m.

Much of this growth is down to the acquisition of Albany, the legal expenses and claims handling service, in October 2004, together with the purchase of Swift Rentacar in September of this year.

Helphire supplied cars to 45,000 cases in the first half of the year, compared to 26,700 for the same period last year. It managed the repair in more than 16,000 of these cases.

“Albany has been trading ahead of our expectations and Swift Rentacar has already demonstrated its worth. We have every expectation of producing further strong growth,” says chief executive Mark Jackson.

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