Shares in Universal Salvage, the wrecked car specialist, dived by 14% last week after the company issued a profit warning.
The group blamed a "sharp deterioration" in salvage auction prices with lower volumes and profits at the auctions where it sells the damaged cars it buys from insurers. It had expected a winter upswing that had not materialised.
The company said in a statement that it expected second half results "to show only a small improvement on the pre-exceptional loss incurred in the first half".
It had reported a £1.9m pre-tax loss for the 26 weeks to 1 November 2003 on turnover that had fallen to £22.8m from £31.6m in the same period the year before.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
