Re: QPP Stream Log - AIM's Quindell sets sights on...

AIM's Quindell sets sights on becoming 'multi-billion pound business' Sales in the first quarter were almost as high as the first six months of the year before at telecoms and insurance outsourcing firm Quindell. Adjusted operating profits smashed previous market guidance of "at least" £50m, soaring to £65.9m as it generated record quarterly revenues of £162.9m, not far from the £167.3m produced in the entire first half of 2013. Executive Chairman Rob Terry said: "Taking into consideration that volumes are subject to roll out, execution and industry claims frequencies, the board is confident that the upper end of market expectations should be achieved for the full year for 2014 and that current expectations for cash generation shall be exceeded in 2014. "It is now clear that in due course, the opportunity to deliver a multi billion pound business generating significant profits with associated positive cash flows is within our grasp, subject to leveraging the significant market lead available to Quindell." Shares in the company initially spiked 7.4% higher but by 12:30 were back to par at 37p.