RNS Number : 2254F
Abbey Protection PLC
08 January 2010
8 January 2010
Abbey Protection Plc
Trading Update
Abbey Protection Plc ("Abbey Protection" or "the Group"), the specialist supplier of legal and professional fees insurance and services products, today announces that its results for the year ended 31 December 2009 will show an increase in profits in line with market expectations, notwithstanding a substantial fall in investment income, the direct result of the Group maintaining a conservative investment philosophy.
Commenting, the Group CEO, Colin Davison, said that this was particularly pleasing against the backdrop of an economy in recession, as it showed the resilience of the underlying business models. It also demonstrated the importance of applying strong risk management controls, particularly in mitigating its exposure to employment claims from its SME clients as unemployment levels have continued to rise.
Abbey Protection will announce its results for the year ended 31 December 2009 on Wednesday 24 March 2010.
Enquiries:
Abbey Protection plc +44 (0)845 217 8293
Minories House
2-5 Minories
London
EC3N 1BJ
Colin Davison
Chris Ward
Adrian Green
Numis Securities +44 (0)20 7260 1233
Charles Farquhar
PricewaterhouseCoopers LLP
Simon Boadle +44 (0)20 7583 5000
Jon Raggett
Financial Dynamics +44 (0)20 7269 7114
Nick Henderson
Ed Berry
Notes to Editors:
Abbey Protection plc is an integrated specialist insurance and consultancy group, and the UK's leading supplier of legal and professional fees insurance products and services to small-to-medium sized enterprises. The Group's principal products provide protection against costs incurred as a result of legal actions and HM Revenue & Customs investigations.
Founded in 1992, the Group operates from offices in London, Rugby, Croydon and Milton Keynes and had 220 employees as at 31st December 2008. Abbey Protection distributes its products and services through the following divisions: Abbey Legal Protection, Abbey Legal Services, Abbey Tax Protection, Abbey HR, Accountax and After The Event Services.
Visit the Abbey Protection website at www.abbeyprotectionplc.com for more information.
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