19 May 2012

Major deal afoot for ARC Risk

29/11/2005 James Crux

City whispers suggest ARC Risk Management is close to announcing a new deal with a major insurance company for its red24 security advice product.

The unsubstantiated claim is that AIM-quoted ARC is in negotiations with the insurer, which is set to include red24 in the household insurance policies of its private clients.

Red24 provides members with ‘preventative and reactive’ advice from ARC’s network of security experts, helping them avoid risks to themselves and families around the world – risks that range from ID theft to terrorism.

HSBC Bank has already incorporated red24 into its ‘Premier’ banking offering and ARC’s ID imposter product into its HSBC Plus banking offering, two deals that have taken total red24 customers well north of 500,000. Red24’s Japanese service is also now being sold through AIG’s network of agents. Hiscox has included the product as part of its private client books since early 2004 and World Nomads, travel insurance provider to the famed Lonely Planet Guides, is also marketing it as part of its services.

Having disappointed in the past, ARC is starting to show signs of life under non-executive chairman and finance advisor Simon Richards, and fellow director Simon Wakeling, a sales and marketing specialist. Recent half time figures to September from ARC, which also has training and consultancy businesses, were encouraging with pre-tax losses culled to £392,000 (£560,000) on a 68 per cent leap in sales to £893,000.

Notably, losses before tax were only £98,000 in the second quarter and Red 24 sales were up more than five fold and now make up more than 50 per cent of sales. Sidebell Limited, Richards’ personal family vehicle, bought six million shares on the results at 1.25p, taking its stake to 17.7 per cent.

Sector: General Industrials

Companies: Arcontech

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