Nationwide has increased its sales from £66.6 million in the six months to June 30, 2005 to £78.7m this year.

However, operating profit was down from £7.8m to £0.1m over the same period this year.

Michael Marx, Nationwide chairman, said: “We are pleased to report Nationwide’s maiden interim results following the group’s successful admission to AiM (stock market) in July this year. Results for the six months to June 30 demonstrate that Nationwide continues to make encouraging progress.

“We remain quietly confident that, subject to normal trading conditions, our full year results will be in line with expectations and we remain on course to recommend our first final dividend to shareholders, which would become payable in May 2007.”

Nationwide provides automotive crash repair and accident administration services to the UK insurance industry. It has a network of 69 accident repair centres located across England, Scotland and Wales employing over 2,100 people.