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.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.