Helphire slips to FY pretax loss

(Reuters) - Accident-claim handler Helphire Group (HHR.L) posted a full-year pretax loss mainly due to non-cash exceptional charges and said it was not declaring a dividend this year.

The company said the current year started with trading in line with its expectation and it was continuing to generate operating cash.

Helphire, which works with the insurance and motor industries to provide vehicles to motorists involved in accidents until their own vehicles are repaired or replaced, said it reduced net debt to 239.5 million pounds from 362.3 million pounds at the end of the previous year.

Helphire, which paid a dividend of 12.3 pence per share for the year ended June 30, 2008, said it was not declaring a dividend this year.

For the full year, the company reported a pretax loss of 149 million pounds, compared with a pretax profit of 43 million pounds last year.

Adjusted operating profit before tax dropped to 4.7 million pounds from 55.4 million pounds a year earlier.

Helphire shares closed at 44 pence on Thursday on the London Stock Exchange.

(Reporting by Kumar Alagappan in Bangalore; Editing by Vinu Pilakkott)