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Article: The Investment Column: Helphire shares are worth hanging on to
- Article from:
- The Independent (London, England)
- Article date:
- June 25, 2002
CopyrightCopyright 2002 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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HELPHIRE IS officially back from the brink. The company supplies
hire cars to drivers involved in accidents that aren't their fault,
then demands the costs back from insurers. But it learnt the
expensive way that in a David-and-Goliath battle with the insurance
industry, the giants tend to win. Most of the UK's multimillion-
pound insurers refused to pay up, taking Helphire to the edge of
bankruptcy.
Its latest results reflected the benefits of having settled on a
less confrontational business model. The insurers are now referring
no-fault drivers Helphire's way, and the company posted a pounds 1.1m
profit for the 12 months to 31 March, compared with last year's
pounds 53.9m loss. By ...