Quindell Portfolio shares jump on £150m deal with Direct Line

SHARES in outsourcing group Quindell Portfolio yesterday jumped 10 per cent after the company announced a £150m three-year deal with Direct Line.

The company also said it is on track to record annual organic revenue growth of £300m a year.

Aim-listed Quindell provides outsourcing services to insurers, with a pledge to drive costs and increasing ancillary revenues for its clients.

To this end it grown rapidly, buying dozens of businesses ranging from personal injury lawyers to claims management firms and medical companies

Earlier this month the company hired independent non-executive directors as it prepares for a full listing that would put it on track for FTSE 250 membership.