Universal Salvage is considering closing its Corby site in Northamptonshire as it looks to reduce its cost base after losing the Direct Line business.

The contract ends on June 28. US, which posted pre-tax profits down slightly from £6.6m to £6.5m, predicts an increase in the number of vehicles it will handle under the end of life vehicle directive.

The group intends to expand its low-value trade-in and part-exchange retail scheme for dealers this year.