CLA Celsius Resources Limited

RNS Number:7456R
Claims Direct PLC
29 September 2000


             CLAIMS DIRECT PLC ("CLAIMS DIRECT")
                              
                      TRADING STATEMENT


Claims  Direct,  the  UK market leader  in  personal  injury
compensation, which floated on the London Stock Exchange  in
July, is today announcing a trading update prior to its half
year  end.  The interim results for the six months ended  30
September  2000 will be announced on Wednesday  29  November
2000.

At the time of flotation the company was experiencing a "run
rate"  of  cases  per  month  of approximately  4,000.   The
company  is therefore delighted to announce that the current
"run  rate" has increased to approximately 5,000 per  month.
Accordingly   the  half-year  results  are  likely   to   be
significantly  ahead  of  expectations  at   the   time   of
flotation.

The  company is also pleased to confirm that it has  reached
agreement  with  a  number of potential litigants  (a  small
number of former or current franchisees of the Company), the
details  of whose allegations were included in the company's
flotation  Prospectus.    The net cost  to  the  company  is
expected  to  be  less  than #100,000,  being  the  cost  of
compensation  payments  made,  associated  costs,  less  the
benefit  to  the  company  of progressing  cases  previously
handled  by these franchisees.  The board is confident  that
similar  satisfactory agreements will be  reached  with  the
remaining complainants.

The  acquisition of the vetting division of Poole &  Co  was
completed as planned on 1 September 2000 and the company  is
now deriving the extra income stream from that operation.

Chief Executive, Colin Poole, commented

"The  period during and since the flotation has been one  of
high  activity  and  I  am  delighted  to  report  that  the
company's  case load has continued to grow over  that  time,
despite the obvious distractions of the IPO."

"The company is continuing to expand its core business while
exploring   new   product   lines   and   other   investment
opportunities.  We are performing ahead of expectations  and
look  forward  to  announcing a  successful  maiden  set  of
interim results in November."


For further information, please contact:

Claims Direct plc
Colin Poole, Chief Executive                    01952 284838
Paul Doona, Finance Director                    01952 284938
Web Site                                www.claimsdirect.com

Golin/Harris Ludgate                           0207 253 2252
Reg Hoare/Victoria Martin


Notes to Editors

Claims  Direct  manages compensation claims for  individuals
who  have  suffered a personal injury and  wish  to  recover
damages  from a third party.  The service covers the  entire
process  of  recovering damages taking  each  claimant  from
initial   enquiry,   through  expert   legal   and   medical
assessments, to the goal of compensation.

The  company  generates  the  majority  of  its  cases  from
advertisements on national television.  Individuals who call
Claims  Direct  are put in touch with a Claims  Manager  who
assists    the   individual   in   completing   a   detailed
questionnaire   relating  to  the   proposed   claim.    The
questionnaire  is  then reviewed by a vetting  solicitor  to
assess  the likelihood of success.  If the chance of success
is considered to be above 50 per cent the claim is passed on
to  an independent, qualified solicitor who formally accepts
the   case.   The  solicitor  then  represents  the   client
throughout  the  duration of the case until  its  conclusion
gathering medical evidence and seeking barristers'  opinions
where appropriate.

Claims  Direct  operates on a "no win, no fee"  basis.   The
primary  product  offered by Claims  Direct  is  the  Claims
Direct  Protect  post-event insurance  policy.   Under  this
policy, which the claimant purchases with a loan arranged by
the  Company, the claimant is insured against the  costs  of
the process if the claim fails.

The  Company  was  launched in 1995 and  last  year  handled
28,917  new  cases.   In the year ended  31  March  2000  it
reported revenues of #40m, with profit before tax of #10.1m.
In  July  2000  the  Company floated  on  the  London  Stock
Exchange  raising  #50 million of new  money  by  way  of  a
placing  with  institutional and other  investors  at  180p,
valuing the company at #338 million.

Celsius Resources (LSE:CLA)
Historical Stock Chart
From Jun 2024 to Jul 2024

Celsius Resources (LSE:CLA)
Historical Stock Chart
From Jul 2023 to Jul 2024