AI Claims on the mend

AI Claims Solutions is now firmly on the mend. The provider of replacement vehicles for ‘not at fault’ drivers involved in motor accidents generated a profit of over £600,000 – a rise of 21 per cent – in the first half to end-December and is currently running pilot projects with four more prospective insurance company clients. It says it is witnessing a sea change in attitudes on the part of insurers, which can only bring more business its way. With an operating cash flow of £1.6 million in the half, borrowings have been cut by £0.7 million to £3.1 million.

With half-time earnings of just 0.2p, the company still has some way to go. But the 4p rise in the share price to 25.5p (which is still some 7p down on the price at which AI was recommended here two years ago) shows the market is prepared to start looking ahead again. If you’re still in, stay with it.