first_imgOne of the biggest firms in the personal injury market has returned to the black after a year in which it repositioned the business and cut staff numbers.Lyons Davidson, which serves both the claimant and defendant sectors from its Bristol headquarters, reported pre-tax profits of £268,000 for the year ending 30 November 2018. In the previous year the business lost almost £4.3m.Accounts filed with Companies House also reveal the previously-stated 2017 losses have been revised from the £3m originally reported. Turnover and accrued income had previously included forecast profit earned to date but not yet billed.The accounts note that ‘due to external factors and changes in the wider legislative environment that have emerged over recent years, the directors have reassessed the valuation of open cases at the reporting date’.The accounts also give an indication of the scale of change the firm has undergone to arrest losses and begin to prepare for the new era of personal injury claims. During 2018 it spent £1.28m on restructuring, including redundancy and associated costs. The average monthly number of people employed in 2018 was cut from 831 to 760, with professional staff numbers cut by 44. Nevertheless, the group’s wage bill leapt from £20.8m to £32.2m.Group assets tied up through debtors has increased 14% to around £45.8m, but amounts owed to creditors within the year were up 21% to £64.5m. The group has borrowings of around £47.8m, of which almost £11m is bank loans and overdrafts, almost £2m is share capital treated as debt, £5.7m is directors’ loans and £29.3m is attributed to other loans.Director Mark Savill, writing last month in the firm’s strategic report, said the business has responded to the forthcoming personal injury reforms, with progress in technology development reflected by 60,000 online accounts now being used across the group.Savill said: ‘We have successfully completed the business restructures started in the last financial year, to respond to the changing market and process changes, delivering recurring annual efficiency savings across the business. This increase in efficiency has been further supported by important technology developments including the implementation of robotics projects, further development of customer self-service solutions, and work on an artificial intelligence collaboration with the University of the West of England.’last_img read more

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first_imgF2 Logistics Cargo Movers’ Maria Jose Perez places a shot over the defense of Generika-Ayala Lifesavers’ Symone Harden. PSL [av_one_full first min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’ animation=”][av_heading heading=’F2 sweeps Generika in Superliga Grand Prix’ tag=’h3′ style=’blockquote modern-quote’ size=’30’ subheading_active=’subheading_below’ subheading_size=’18’ padding=’10’ color=” custom_font=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]BY ADRIAN STEWART CO[/av_heading][av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]Wednesday, March 21, 2018[/av_textblock][av_textblock size=’18’ font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] MANILA – F2 Logistics Cargo Movers ended its first-round campaign in the Philippine Superliga Grand Prix on a high note with an impressive 25-18, 25-16, 25-12 victory over Generika-Ayala Lifesavers at the San Juan Arena.Maria Jose Perez knocked down 15 kills and three blocks for a game-high 18 points while Ilongga Aby Maraño had nine markers for Cargo Movers, which remained on second place with 6-1.“We really wanted to finish the first round strong,” said Perez. “We’ve been working very hard in practice to improve our chemistry and communication. It was great that we showed that (against Generika).”From a tight exchange early in the first set on Tuesday night, Cargo Movers started to create distance with consecutive points from Perez for an 18-11 lead. Lifesavers rallied to within 17-20 but Cargo Movers got 3 straight points from Maraño to close the set.The game was tight again early in the second frame before Cargo Movers pulled away 18-10 on hits from Perez and Charleen Cruz. Perez then put on the finishing touches for a 2-0 set lead.Unlike in the first two sets, Cargo Movers jumped to an early advantage in the third frame behind Cruz for a 16-9 lead. The lead grew further since then with Marano, Cherry Nunag and Ara Galang putting on the finishing touches.In the first game, Sta. Lucia Lady Realtors survived a 40-point explosion from Gyselle Silva to eke out a 25-15, 25-20, 23-25, 25-22 victory over Smart Prepaid Giga Hitters.Canadian import Bohdana Anisova came through with 18 kills and four blocks to finish with 23 points while Filipino-American Marjana Philips and Canadian Marisa Field chipped in 15 and 14 markers, respectively, for Lady Realtors (3-3)./PN[/av_textblock][/av_one_full]last_img read more

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