NAHL Group PLC Pre-Close Trading Update (8929F)
18 Julio 2019 - 01:00AM
UK Regulatory
TIDMNAH
RNS Number : 8929F
NAHL Group PLC
18 July 2019
18 July 2019
NAHL Group PLC
("NAHL" or the "Group")
Pre-Close Trading Update
NAHL (AIM: NAH), the leading UK marketing and services business
focused on the UK consumer legal market, is today providing a
trading update for the first half of its current financial year,
covering the six months to 30 June 2019.
The Group has performed in line with the Board's underlying
earnings* expectations, with revenue and underlying operating
profit** both showing growth against the same period last year, as
well as sequential growth on H2 2018. Net debt at 30 June 2019 was
GBP17.6m, which was marginally lower than the Board's
expectations.
Within the Group's Personal Injury division ("PI"), National
Accident Helpline ("NAH") continues to operate in challenging
market conditions, driven by competitive pressures. The Board
expects these to persist until the implementation date of the legal
reforms, currently planned for April 2020. NAH management continue
to adapt the division's marketing and placement tactics to respond
and optimise the results. The strategic transformation of PI
continues and, pleasingly, the contribution from its Legal Services
business unit is slightly ahead of expectations. This includes the
Group's wholly owned law firm, National Accident Law, which has
made encouraging progress since its launch in April 2019.
The Group's Critical Care division has performed in line with
the Board's expectations and delivered double digit profit growth
in H1 2019.
Whilst the residential property market has deteriorated further
in H1, we have continued to progress a number of initiatives to
drive growth in H2 and are beginning to see some market share
gains.
Overall, despite no noticeable improvement in market conditions,
the Board is pleased with the Group's strategic progress and its
underlying earnings* expectations for the full year remain
unchanged.
NAHL will announce its results for the six months ended 30 June
2019 on 17 September 2019.
Russell Atkinson, CEO of NAHL, commented:
"The first half of 2019 has been an exciting period with the
successful launch of the Group's wholly owned law firm, National
Accident Law, which has demonstrated encouraging progress. Critical
Care has continued to perform well, generating a strong profit
performance, while the Residential Property team have concentrated
on driving share growth in a difficult market environment.
"The Board is pleased with the Group's performance during the
first half and remains excited about the opportunity that National
Accident Law represents for the PI division."
* Underlying earnings is based on profit attributable to
shareholders of NAHL (i.e. excluding profits attributable to
non-controlling interests) before the deduction of non-underlying
costs.
** Underlying operating profit is based on profit before
deduction of exceptional items, share-based payment charges and
amortisation of intangible assets acquired on business combinations
(non-underlying costs).
For further information please call:
NAHL Group plc via FTI Consulting
Russell Atkinson (CEO) Tel: +44 (0) 20
James Saralis (CFO) 3727 1000
finnCap Ltd (NOMAD & Broker) Tel: +44 (0) 20
Julian Blunt / James Thompson (Corporate Finance) 7220 0500
Andrew Burdis (Corporate Broking)
FTI Consulting (Financial PR) Tel: +44 (0) 20
Alex Beagley 3727 1000
James Styles
Sam Macpherson
Notes to Editors
NAHL Group plc (AIM: NAH) is a leader in the Consumer Legal
Services ("CLS") market. The Group provides services and products
to individuals and businesses in the CLS market through its three
divisions:
-- Personal Injury provides outsourced marketing services to law
firms through National Accident Helpline and claims processing
services to individuals through Your Law, National Law Partners and
National Accident Law.
-- Critical Care provides a range of specialist services in the
catastrophic and serious injury market to both claimants and
defendants through Bush and Company Rehabilitation.
-- Residential Property provides marketing services to law firms
and conveyancers as well as surveys to individuals through Fitzalan
Partners. It also provides property searches through Searches
UK.
More information is available at www.nahlgroupplc.co.uk
More information is available at www.nahlgroupplc.co.uk and
www.national-accident-helpline.co.uk.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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