Nationwide debt free and with £5.4m after six purchases
Car crash repairer Nationwide, announced that its full year results are expected to be in line with market expectations, representing a record year. “The balance sheet remains strong, with nil borrowings and net cash as at 31 December 2008 of approximately £5.4m. This is after the acquisition of six body shops over the period,” the company said.
“The performance demonstrates the success of the Company's twin track strategy of growth, organically and via acquisitions. In particular, results reflect the benefits of contracts and volume extensions won in the previous financial year. “
“The Directors remain confident that the business is well positioned for long term growth.”
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