Nationwide Accident Repair warns on revenue reduction

Nationwide Accident Repair Services has said that it continues to trade in line with its expectations and maintains a strong cash position, boosted by the mobile repair and glass businesses, which continues to make an increasing contribution to the overall group performance.

Nationwide Accident Repair Services has said that it continues to trade in line with its expectations and maintains a strong cash position, boosted by the mobile repair and glass businesses, which continues to make an increasing contribution to the overall group performance.

However, following completion of a re-tendering process by Aviva, Nationwide will see a significant reduction in the volume of vehicle accident repair work undertaken for Aviva in the second half, as the volumes were awarded on terms that are commercially unattractive to the group. This will result in a shortfall in revenue of around £10m for the current financial year, ended December 2012.

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