We note price weakness in Redde in the last few days and believe that this presents a buying opportunity with the prospective dividend yield now at 5.8%. The Autumn Statement proposed ending the right to cash compensation for minor whiplash claims – this is not expected to have an impact on Redde as, at most, whiplash accounts for <2.5% group revenue and no material impact on profitability. The investment case is unchanged with volumes growing from development of new and existing relationships a ....
