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Enterprise

Former takeover target Anexo Group's half-year results surge

A takeover attempt for the listed company collapsed in August

Anexo is a specialist credit hire and initial claims management business providing cars, motorcycles and cycles from a fleet of over 1,500 vehicles(Image: www.pexels.com - free to use image)

A Liverpool-based specialist integrated credit hire business, which was the subject of a collapsed takeover bid recently, has reported a surge in its half-year results.

Anexo Group has reported a turnover of £48.3m for the six months to June 30, 2021, up from the £36.6m it posted during the same period in 2020.

The listed company has also achieved a pre-tax profit of £8.9m, a rise from £6.3m.

READ MORE: Higher business taxes and lower investment 'not a plan for growth' - CBI chief

The figures come after a takeover attempt of the business by an international asset management firm collapsed in August.

Executive chairman Alan Sellers said: "I am pleased to report that the group has performed robustly during the first half of the year, notwithstanding the considerable challenges posed by the Covid-19 pandemic.

"Business activity in both our credit hire and legal services divisions have recovered strongly.

"We continue to put record numbers of vehicles on the road and to maximise cash collections by carefully managing hire periods and increasing the overall number of case settlements.