Quindell Portfolio secures new agreement with Honda

AIM-listed Quindell Portfolio, the provider of software, consultancy and technology has announced a new agreement with Honda to handle a range of accident management services for the motor manufacturer's UK customers.

Quindell Portfolio said that the contract followed a period of co-operation which started in January 2013 and said that it expected group revenues to build to a significant level during the three-year term. Under the terms of the agreement, Quindell said it would deliver a range of accident management services to Honda customers.

Marcus Comfort, Aftersales Programmes Manager at Honda (UK) commented: "Quindell have created a compelling proposition for Honda, and we believe the partnership will deliver an improved customer experience."

David Sandhu, Group Chief Operating Officer at Quindell, said: "This contract with Honda is one of a number of new clients that we have won so far in the current quarter, due to our continued focus on an ethical approach for the industry."

He added: "These clients in combination represent additional tens of millions per annum in outsourcing revenues for the Group, with a combination of a number of major vehicle manufacturers, accident management companies, major insurers and brokers, which all underpin our confidence in continued growth in 2013 and beyond".

Quindell's share price was up 2.94% to 8.75p at 08:41 on Wednesday.

MF