Cash from an agreement in a VW motor emissions case helped drive a strong increase in profits at the listed owner of the Bond Turner legal brand in the first half of this year. 

In results for the six months to 30 June posted today, Anexo Group plc posted pre-tax profits up 11.8% to £15.2m on revenue up 13.4% to £77.8m. 

A statement to the London Stock Exchange says the results for the period include an agreement in the emissions case, the terms of which are subject to confidentiality restrictions. Housing disrepair cases were 'an ever-increasing element, with revenues increasing by over 25%', the company said. Overall, cash collections from settled cases increased 14% to £77.4m

Anexo reported a reduction in net debt, which at 30 June 2023 stood at £61.2m, down from £74.2m on the same date last year.

In May, Anexo announced that it had invested £3m in housing disrepair claims. 

Shares in Anexo Group plc rose 11% to 66.8p on the news.

 

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