U.K.-based insurer and roadside assistance provider AA PLC expects to post trading earnings before interest, taxes, depreciation and amortization of between £390 million and £395 million for the year ended Jan. 31.
The expected trading EBITDA is in line with the guidance provided in September 2017.
AA achieved 6% growth in motor policies, which offset an expected 5% decline in home policies, and expects further growth in the motor policy book. Its underwriting services has 407,000 policies in force, more than half of which are motor policies.
The company confirmed in a Feb. 8 statement that it has no near-term financing requirements and expects to update the market on its strategy review Feb. 21.
