PRE-tax profits at credit hire and credit repair services group Helphire rocketed 137% to £2.5 million (1997: £1.06 million) for the year to March 31, the company announced this week. The service is provided to motorists involved in no-fault accidents and the pre-tax profits boom comes as turnover rose 154% to £25.47 million (1997: £10.01 million).
The growth has been largely generated by the company's core activities of credit hire and credit repair, although several new products were launched during the year including a fleet accident management service, and Bike Assist. More than 2,600 car body repair shops are contracted to Helphire and recent initiatives have resulted in a 'substantial increase' in the number of referrals from insurance brokers and solicitors, according to the company.
The growth has been largely generated by the company's core activities of credit hire and credit repair, although several new products were launched during the year including a fleet accident management service, and Bike Assist. More than 2,600 car body repair shops are contracted to Helphire and recent initiatives have resulted in a 'substantial increase' in the number of referrals from insurance brokers and solicitors, according to the company.
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