Accident Exchange has given the market a positve trading update, highlighting strong performance and a growth in market share, in advance of its interim results for the six months to 31 October 2005.
In a statement, Accident Exchange said: "The Group continues to make good progress. Both the levels of core credit hire business and the number of dealers committed to the Group's Accident Management service are growing satisfactorily.
"Performance for the year to date is significantly ahead of the final six month period of the last financial year and the Board is pleased to report that Accident Exchange has continued to win market share. The business remains on track to deliver yet another year of excellent growth.
"For the six months to 31 October 2005 the total number of hire starts reflects approximately 150% of the levels achieved in the second six months of the last financial year.
"Rental activity in October was around 20% ahead of activity levels in September, an indicator that we have moved into the more active part of the year in terms of accident volumes.
"In addition the activity from the numerous new relationships announced over the last few months is progressing well with the full run rate of hire starts from these partners still to reach their full potential."
Steve Evans, chief executive, said: "I am delighted with the performance of our team in the first half of the current financial year. We have also continued to win new accounts throughout the first half, some of which have been announced, and we have a number of other potential contracts currently being negotiated.
"More importantly we have managed to retain and develop our existing accounts and have managed to increase the number of monthly hire starts to record levels as we enter the second half of the financial year. I therefore look forward to the second half of the year with confidence."
The Group expects to announce its interim results in December 2005.
