3 September 2014 – contract win
The group has announced that it has won a major new contract with Allianz Insurance in which the company will be one of two preferred suppliers for vehicle accident repair and repair management services across the UK. The contract is expected to be worth around £10m per annum once fully implemented. The contract starts immediately and supports Nationwide’s trading performance in the current financial year and beyond. As group revenue last year was £157m, it can be seen that this contract is not insignificant and we continue to rate the shares as a BUY.