News blog
Just Car Clinics
- BY: Andrew Hore |
- POSTED: 11/09/2007 |
Interim figures from car crash repairer Just Car Clinics has sparked an upgrade by its broker.
Brewin Dolphin has increased its 2007 profit forecast from £1m to £1.1m. The tax charge will increase this year so the stated earnings per share will fall in 2007. The broker has also increased its 2008 forecast by £100,000 to £1.3m.
Like-for-like interim turnover increased by 11%. Some of that growth came from price increases but most of it represents an increase in volumes.
As well as organic growth Just is looking to grow through acquisition. It has a strong enough balance sheet to acquire individual crash repair centres or small groups. This is a fragmented market and there aren’t many significant groups other than Just and the much larger Nationwide.
Just is confident enough with the strength of its balance sheet to announce a maiden interim dividend of 0.5p a share and a final dividend of !p a share is expected.
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