Response to Autumn Statement

RNS Number : 1333H

Fairpoint Group PLC

27 November 2015

 

27 November 2015

Fairpoint Group plc ("Fairpoint" or the "Group")

Response to Autumn Statement

Fairpoint Group plc ("Fairpoint" or "the Group"), one of the UK's leading providers of consumer professional services (including consumer legal services), notes the comments made by the Chancellor in yesterday's Autumn Statement regarding personal injury claims. The Government's outline proposals, which remain subject to consultation, seek to restrict the ability for sufferers of minor whiplash injuries to claim compensation. The expected implementation timetable is April 2017 following a period of consultation in which the exact nature of the proposals will be defined.  As such the proposed changes will have no impact on the Board's expectations of Group performance for the year to 31 December 2015 or for the year to 31 December 2016.

The notion of extending the small claims limit has been a topic of debate for some time and following the acquisition of Colemans LLP and its class leading Legal Processing Centre in August 2015, the Group has an operational capability designed specifically in anticipation of such changes.  As such the Group is well positioned to take advantage of these market changes.

Enquiries:

Fairpoint Group Plc                                                                                                                                         

Chris Moat, Chief Executive Officer                                                                                                               0845 296 0100

John Gittins, Group Finance Director

Shore Capital (Nomad and Broker)                                                                                                                                    

Pascal Keane                                                                                                                                                     020 7408 4090

Edward Mansfield

MHP Communications                                                                                                   

Reg Hoare                                                                                                                                                          020 3128 8100

Katie Hunt                                                                                                                                                        

Notes to editors:

Fairpoint Group plc is an AIM listed consumer professional services business specialising in the provision of consumer-focused legal services, personal debt solutions and claims management. The Group is structured into the following primary business lines:

1.             Legal Services

2.             Debt Management Plans (DMPs)

3.             Claims Management

4.             Individual Voluntary Arrangements (IVAs)

www.fairpoint.co.uk

 

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