Half Year Results 

Sales up, cash down at Redde

Sales up, cash down at Redde

It was a strong first half for Redde (REDD), as double-digit revenue growth for the accident management specialist fed through to the bottom line. Sales were buoyed by a 24.8 per cent rise in the number of credit hire cases, and a marginal increase in the total number of repair cases. The average number of vehicles held during the period rose by 16.8 per cent to nearly 9,000 due to increased demand, partly from new contracts. Even so, the group’s fleet utilisation remained slightly above its 80 per cent target.

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