Fleet News

Shares fall

A SLOWDOWN in payments by insurers has caused shares in Accident Exchange to plummet for the second time this year.

The firm provides vehicles to drivers involved in non-fault accidents. Recent challenges from solicitors for counterparty drivers, from whom Accident Exchange was seeking to recover rental charges, have meant payments have slowed considerably.

The Accident Exchange board has issued a profits warning and says it is reviewing its financing structure. Shares fell 40% to 107p.

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