WTG.L Regulatory News (WTG)

Release 7am 21 February 2013

Quindell Portfolio Plc

("Quindell", the "Company" or the "Group")

Trading Update and Notice of Results

Quindell Portfolio Plc (AIM: QPP.L), the provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets, being Insurance, Telecommunications and their related sectors is pleased to provide a trading update and notice of the preliminary results date for the year ended 31 December 2012.

Highlights

·; 100% success rate in converting all outsourcing pilots into on-going long term contracts

·; Growth rate accelerates with new prospects referencing existing clients to bypass pilot phase

·; Group now has visibility of the outsourcing volumes required to meet the market's current full year revenue expectations for 2013

·; Potential acquisitions continuing to be considered only where they are significantly earnings enhancing and any equity issue is at a significant premium to current share price

·; Preliminary results to be announced on 7 May 2013, in line with review required for Full Listing

Trading update

As previously stated, the Group is enjoying a strong start to the new financial year. The Group has continued to be successful in converting pilots to full relationships, achieving a 100% success rate, with all the major outsourcing and partnership pilots that the Group announced during the latter stages of 2012 as being in progress now successfully converted into ongoing relationships. The final terms of these agreements, which are now being put in place in the lead up to 1 April 2013, range from rolling contracts with several months' notice to contracts with a minimum five year duration and rolling notice thereafter. The conversion of each of these pilots, together with other outsourcing wins that the Group has gained, now provide the Group with visibility of the outsourcing volumes required to meet the market's current full year revenue expectations for 2013.

Readiness for the forthcoming regulatory changes within the UK insurance sector that come into force on 1 April 2013 is, without doubt, one of the leading considerations within the boardrooms of the Group's prospective customers and this, together with further clarity now being issued by the Government as the 1 April date approaches, means that sales cycles are continuing to be accelerated. This acceleration has also increased as recent contract wins have been confirmed without going through a pilot stage as prospective customers have been happy taking references from existing clients.

In addition to the volumes referenced above, the Group expects to continue to win additional contracts from major customers that are currently within its sales pipeline (which is still over £1 billion per annum) throughout the remainder of this year. The Group is focused on early conversion of those relationships where the cash profile is optimal. In preparation for this additional volume, in line with its previously stated strategy, the business has from mid-February 2013 transitioned itself towards higher margin outsourcing work with a targeted EBITDA margin of 25% as opposed to pure hire or pure repair contracts where EBITDA margins were in some cases as low as 5%.

Acquisition strategy

The Group continues to be approached by prospective acquisition targets. Potential acquisitions are only being considered where they are significantly earnings enhancing and any resultant equity issue is at a significant premium to current share price. The Group remains focused on only making acquisitions that would be earnings enhancing on a standalone basis, before taking into account additional earnings that can be generated by the 'waterfall effect' of using the acquired companies for the Group's existing volumes, which based on forecasts for 2013 now represent circa 15% of the UK market for personal injury claims.

Notice of Results

The Group confirms today that it is currently working with its advisors to determine the feasibility of transitioning from AIM to Premium Full List as soon as possible, one of the Board's previously stated objectives for 2013. As part of the process of relisting onto the Full List, the Group is determining and gathering the documentation necessary to achieve a move to Full List, including that associated with the last three years' financial information of its acquired businesses. As part of this Full List timetable, the Group confirms that it will announce its preliminary results for the year ended 31 December 2012 on Tuesday 7 May 2013 and will provide a further update on its intended Full List application at that time.

Rob Terry, Chairman and Group Chief Executive of Quindell said: "With the combination of contracts already in place, together with the new wins that we achieved in the latter stages of 2012, we now have visibility of our 2013 outsourcing revenues. The implementation of the regulatory changes on 1 April 2013 is continuing to provide us with the opportunity to win additional new business and we expect this to stimulate further growth throughout 2013 and beyond as a result of this, and as our customers also continue to grow.

The Group's move from AIM to Full List is a key corporate objective for the Board, enabling Quindell and its shareholders to benefit from the broader investor pool that is available to companies on this market."

For further information:

Notes to Editors:

About Quindell Portfolio Plc

Quindell Portfolio Plc is a provider of sector leading expertise in Software, Consulting and Technology Enabled Outsourcing in its key markets being Insurance, Telecommunications and their Related Sectors. Quindell joined the market through Mission Capital Plc, now renamed Quindell Portfolio Plc. The Company was readmitted to the market on 17 May 2011 following the acquisition of Quindell Limited prior to the immediate acquisition of Quindell's technology and outsourcing partners. In December 2011, Mobile Doctors Group Plc was acquired increasing 2012 run-rate revenue to over £50 million. On the 1 April 2012, Ai Claims Solutions Plc became a subsidiary of Quindell, increasing run rate revenue to over £150 million. Post gaining approval by the Solicitors Regulation Authority and the acquisition of our legal businesses in December 2012, including the law firm Silverbeck Rymer, Quindell finished 2012 with run rate revenue of more than £300 million.

Our Industry Sectors

In today's digital world the line between traditional industry sectors continues to blur, however the focus on tight service management is common to them all. We believe that excellent customer service, tight cost control and integrated supply chain management is not the prerogative of any single industry sector and with our solutions in multiple industry sectors savings of over 20% against industry norms are being delivered to the bottom line.

Our Solutions

The pressures on an organisation can come simultaneously from multiple directions including the need to add customers, increase wallet share, reduce costs and improve customer satisfaction. At Quindell we have the People, the Processes and the Supply Chains, underpinned by our sophisticated Champion and Challenger Business Process Management Technology Platform and Industry Solutions to help our customers tackle these efficiently and effectively.

With a clear understanding that having the best products and services on offer is not always enough and that getting your customers to use or adopt them is key, effective conversion lies at the core of our unique Champion and Challenger tools and techniques. Using these solutions Quindell has helped its customers achieve sales and service conversion rates ranging from 75% to 90%, way above industry norms. But life does not stand still, and complacency can kill any business, so the embedded Champion and Challenger continual improvement focus of our Learning Solutions is at the heart of all we offer. Using our industry insight and expertise, Quindell takes the holistic view of our client's challenges.

For example, when considering the Insurance industry today where 50% of the cost of an auto claim is associated with Personal Injury, including legal services, medical reporting and rehabilitation, it is clear that an organisation will not be able to achieve the levels of savings and customer satisfaction desired without addressing the injury to the driver as well as the repair of the vehicle. This is why at Quindell we have designed our insurance solutions and supply chains to address the full end to end cycle, with the ability and expertise to treat an injured party as well as repairing their vehicle. This makes Quindell a truly unique and ethically based proposition for the insurance industry today.

Our Customers

Quindell Portfolio's companies have worked with over 2000 brands from Small to Medium Enterprises and Blue-chip organisations around the globe. Today we count a number of the world's top Insurance and Telecommunications blue chip companies within our client base, as well as hundreds of customer centric organisations working in both the distribution and supply of their services.

Our award winning Business Transformational, Software, Consulting and Outsourcing Solutions are recognised as delivering significant savings and additional sales to our customers every year.

For further information, please visit www.quindell.com