February 11, 2020 / 7:57 AM / 7 days ago

AA sees in-line annual earnings, points to strong rates of policy growth

Feb 11 (Reuters) - British roadside recovery company AA said on Tuesday core earnings for the last fiscal year would be in line with market expectations, adding that its insurance business was seeing strong rates of profitable policy growth.

AA, famous for its distinctive yellow vans, said it has stabilised the drop in its paid membership base, which returned to growth during the second half of the year. The company had 3.2 million paid personal members as per its website.

The strength in policy growth is expected to continue next year, AA said.

The small-cap company, formed in 1905 by a group of motoring enthusiasts in London, will report its full-year results on March 31. (Reporting by Muvija M in Bengaluru; Editing by Aditya Soni)

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