25 May 2012

Abbey Protection sees 'constrained growth'

10/01/2012

Legal and professional fees insurer and services provider Abbey Protection (ABB) cautions that 2012 could see growth 'constrained' amid 'wider economic uncertainty'. In a full year trading update, the London-based company, which increased first-half pre-tax profits 6.5 per cent to £5 million, says full year results for 2011 will be in line with market expectations, which brokers argue suggests pre-tax profits up by nearly £3 million to £10.2 million, with earnings ahead nearly 9 per cent to 7.6p a share.

AIM-quoted Abbey which serves small and medium sized companies and recently extended its contract with the Federation of Small Businesses to 2017, hopes the de-regulation of legal services will provide some new opportunities. The shares, which have eased from 84p to 78.13p over the past year, offer income attractions with a yield of more than 5 per cent.   

Tags: AIM market, Federation of Small Businesses, Legal services de-regulation, Yield

Sector: Nonlife Insurance

Companies: Abbey Protection

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