Helphire see FY in line

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Date: Monday 07 Jul 2008

LONDON (ShareCast) - Helphire, which provides hire cars and repairs for motorists involved in accidents, said despite more challenging economic conditions, it expects full year results to be in line with market expectations.

The group said it has continued to make satisfactory progress but on a more cautionary note, it warned that, "if the economic environment remains challenging in the near future and fuel prices remain high, motoring activity and therefore growth in the use of credit hire may slow."

Helphire, which also provides legal expenses and theft policies to the insurance and motor industries, said its caseload is growing less rapidly

It handled 20% more hire cases in the second half than it did the same time a year ago, bringing overall growth in hire cases for the full year to 29%.

"We are continuing to focus on efficiency, profitability and cash generation," it added.


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