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Business improving for bodyshop group Nationwide

Crash repair group Nationwide will tell investors that its growth plan is progressing well at its AGM today.

The publicly-listed independent bodyshop group reports that the current financial year has started well and while the trading backdrop is no easier than last year, it says first half results are expected to show an improvement on the same period in 2010.

"Nationwide is in the second year of its three year growth plan and this is progressing well. While the insurance-funded market remains the Group's core customer base, management is seeking to add incremental revenues from the non-insurance sector, particularly the fleet and retail markets.

"Initiatives here are showing good results, supported by additional investment as well as the launch of enhanced mobile repair services last summer.

"The expansion of the Group's mobile repair capability is also providing added flexibility in the efficient management of work flows."

 

It says operational efficiencies remain a key area of focus as well as effective management of the cost base and management continues to reduce costs while maintaining market-leading service levels.

 

The group describes its financial position as strong, with good cash flows and substantial net cash.

Its board believes that the business remains well-positioned to deliver increased sales and profitability.

 

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