Last checked at 3 Jun 2013 07:00
3rd June 2013
Fairpoint Group plc
AGM statement - trading update
Fairpoint Group plc ("Fairpoint or "the Group"), the leading provider of advice and solutions to financially stressed consumers, announces the following update on the Group`s performance for the first four months of 2013, ahead of its Annual General Meeting being held later today.
Overall Group trading has been in line with market expectations during the historically quieter first four months of the year.
Good progress continues on the diversification agenda with the Group`s claims management activities performing well. As expected, market conditions in the Group`s core debt solutions activities remain challenging, with the market volume of IVAs originated in the first quarter of 2013 in England and Wales falling by 5% compared to the same quarter in the previous year (source: The Insolvency Service). Progress with acquisition activity continues and we have successfully integrated the DMP book acquisitions announced in March of this year.
The Board expects to be able to further update the market on progress in July, before the interim results announcement in September 2013.
Enquiries:
Fairpoint Group Plc
Chris Moat, Chief Executive Officer 0844 826 1209
John Gittins, Finance Director
Shore Capital (Nominated advisor and broker)
Pascal Keane 0207 408 7912
Edward Mansfield
MHP Communications
Reg Hoare / Katie Hunt / Ben Griffiths 020 3128 8100