Quindell Portfolio has strong third quarter

Software outsourcer Quindell Portfolio has reported strong third quarter trading, saying it is 'extremely confident that expectations should be exceeded for the full year and at the upper end of guidance for 2013.'

Software outsourcer Quindell Portfolio has reported strong third quarter trading, saying it is 'extremely confident that expectations should be exceeded for the full year and at the upper end of guidance for 2013.'

The group generated good levels of cash from its operations during the three months to September 30th 2012, with an operating cash flow to earnings before interest, tax, depreciation and amortisation (EBITDA) conversion ratio in the region of 65%, and with the group's cash balance at the end of the period being approximately £18.5m (June 30th 2012: £21.4m) together with drawn down working capital facilities relating to acquisitions of circa £31m.

Rob Terry, Chairman and Group Chief Executive of Quindell, said "the board is extremely confident of exceeding market expectations for the full year and beyond and believe the group's ability to do so is clearly demonstrated by the 0.4 pence EPS [earnings per share] achieved in the third quarter."

For the nine months to September 30th Quindell reported turnover of around £95.7m and adjusted EBITDA of circa £29m.

Consensus expectations for the full year are for revenue of £153.65m and pre-tax profits of £33.90m, delivering earnings per share of 1.02p.

Quindell, has seen its shares rise 400% in the past year.

CM

Recommended

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
6 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
2 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

NS&I brings back one-year fixed bonds with highest rates since 2010
Personal finance

NS&I brings back one-year fixed bonds with highest rates since 2010

NS&I’s one-year fixed bonds are back on sale after being pulled off the market in 2019 - but is the rate any good?
1 Feb 2023
How to invest like an ISA millionaire
Investments

How to invest like an ISA millionaire

We reveal the top funds and trusts ISA millionaires pumped their money into
6 Feb 2023
The best one-year fixed savings accounts - February 2023
Savings

The best one-year fixed savings accounts - February 2023

Earn almost 5% on one-year fixed savings accounts.
6 Feb 2023