Growth planned for 2010 with £1m investment

Car repairer Nationwide Accident Repair Services has said that, despite a decline in claims, it expects results for 2009 to be in line with market expectations.

The firm has no debt and expects to show net cash of around £8m, ahead of the previous year’s net cash position of £5.4m.

Directors intend to propose a final dividend of 3.3p per share, maintaining the dividend for the full year at last year’s level of 5p per share.

The recent renewal of Nationwide’s contract with insurer RSA will help to underpin the company’s trading performance, it said.

Nationwide also plans a £1m investment this year to support its growth strategy. Long-term prospects are good, the board said. The company’s preliminary results for the year ended 31 December 2009 are expected to be announced on 22 March 2010.