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Article: Helphire warns on slower growth.
- Article from:
- Investors Chronicle - magazine and web content
- Article date:
- March 3, 2008
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RESULT: Helphire's profit margins are set to fall. Jonas Crosland
Helphire shares plunged a third as these results missed brokers' estimates by 12 per cent. Operating margins fell by 3 percentage points and to compound matters Helphire announced a change in the method of collecting claims money from insurance companies that will lead to a fall in net income per case in the short term.
Although a reduction in claims handling and borrowing costs will more than offset this, investors were clearly spooked.
Helphire provides replacement vehicles for drivers involved in accidents that are not their fault. Traditionally, each case is treated as an individual claim ...