Chairman's Statement

 

“The transformation is delivering growth in our Roadside Assistance Membership base and of motor insurance policies, reversing long-term historic declines. It has given us a firm platform for sustainable growth.

“We have delivered results in line with expectations, mitigating the increases in IPT and breakdown call outs, and paid a progressive dividend. In addition, the refinancing reduced the cash cost of debt by £10m per annum, bringing the annualised total reduction since the IPO to more than £75m.

“We are realising the AA’s potential. We are now capable of building on our technologies, brand and positioning in our markets to take advantage of the abundant opportunities that arise from our ability to fulfil a wider set of consumer and business needs. We are more than ever convinced of the potential of the AA as we position it as the UK’s pre-eminent Membership services organisation.”

Bob Mackenzie
Executive Chairman