Nationwide profits up by 15%

Nationwide Crash Repair Centres has turned an operating profit before non-recurring items of £6.6 million in 2007, up by 15% from £5.8m in 2006.

Sales in 2007 rose to £151.9m, up from £151.9m in 2006.

Michael Marx, Nationwide chairman, said: “It is encouraging to have achieved such pleasing results while laying strong foundations for future growth.

“We are focused on developing customer relationships which will enable us to leverage our scale and operational efficiencies to the benefit of both Nationwide and our customers.”

Marx said the insurance contracts it won from Hastings Direct and Zenith and the extensions of its existing contracts with Norwich Union, AXA and Zurich would bring further benefits in the current financial year and beyond.