Anexo Group - cash flow improves and dieselgate offers big upside (Updated)
Anexo Group is a specialist legal services business supporting impecunious customers who have been involved in a non-fault accident. The rating looks attractive and there could be plenty to go for as an expanded litigation team encourages insurers to pay up quicker and the VW emissions case (and other potential automotive miscreants) offer further significant upside.
In simple terms, Anexo Group (LON:ANX) funds small insurance claims for people involved in accidents through no fault of their own, who do not have the financial means to contest these claims themselves. The claims largely reflect the provision of repairs and replacement vehicles, with the business model underpinned by case law. Personal injury represents a very small element of their business. It has developed an integrated business model with a dedicated field sales team generating almost all of the group’s road traffic accident customers from a network of approximately 1,100 active referrers around the UK. The group provides an…